Wheat Higher on Tuesday
Grain bids were higher with soybean bids trading lower on Tuesday. Corn saw support from concerns of cold temperatures in the upper corn-belt. Wheat was higher on concerns of damage due to cold temperatures and heavy rain in some areas. From the floor of the CME Group, Joe Vaclavik provides more market detailsVaclavik: "The live cattle market was higher on Tuesday after lower trade on Monday. USDA issued their monthly Cattle on Feed Report this past Friday and the report was a bit bearish. It resulted in some selling pressure on Monday, but we have quickly erased a great deal of those losses here on Tuesday. The market not acting nearly as poorly as it could have given that feed report."
Chicago May Wheat prices closed Tuesday up 6 1/4 at 4-08 and 3/4. May corn ended the day up 5 and 3/4 at 3-65.
Portland prices for May soft white wheat of Ordinary Protein ended the day mixed up 31 and 1/4 to down a 1/4 ranging from 4-53 and 3/4 to 4-70. Hard Red Winter wheat with 11 ½ % protein, prices for May were up 10 and 1/4 cents ranging from 4-87 to 5-02. DNS wheat with 14 % protein, prices for May were up 12 and 1/4 cents ranging from 6-33 3/4 to 6-68 3/4 .
June live cattle were up 97 and half cents at 115.82 and half. May feeder cattle were up 22 and half cents at 137-67 and half. May class III milk was down 29 cents at 15-32.