Most Wheat Markets Slightly Higher

I’m KayDee Gilkey with the Market Line Report for October 23, 2014.
It was a positive day for the most part for wheat markets on Wednesday. From the floor of the CME Group, Todd Horwitz shares his observations of Wednesday’s markets.
Horwitz: “Wednesday’s grain trade moderate to higher — moderate in corn. Pretty much of a mixed market. I think we’ve seen exactly what we’ve been expecting all long as we’ve talked about for weeks, the market is making a bottom and they’ve all across the board made beautiful nice rounding bottoms. Probably look for a bit of a pull back here but again I don’t think this is a selling opportunity but I think we need to look at more buying opportunities. As we look back at the big picture and we see all of the reports everything has been how good the crops are going to be and how much overabundance we’re going to have.”
Chicago December Wheat ended Wednesday up 3 cents at 5-22 and 1/4. December corn ended the day down 3 cents at 3-53.
Portland prices for soft white wheat were up 3 cents at mostly 6-89. White club wheat prices were up 3 cents at mostly 9-30 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices up 3 cents at mostly 7-63 and 1/4. DNS wheat with 14 percent protein prices were mixed down a 1/4 of a cent to up 9 and 3/4 cents at mostly 9-14 and 3/4.
December live cattle were up $1.05 on Wednesday at 168-10. November Feeder cattle were up $1.25 at 235-17 and half. November class III milk was up a nickel at 21-74.