Wheat Not Far From Unchanged

December wheat closed slightly lower on the day and down near the lows as the mid-day short-covering bounce failed to attract new buying interest. From the floor of the CME Group, Joe Vaclavik shares his observations of Thursday's markets.

Vaclavik: "Livestock markets here in Chicago on Thursday were mixed. We had the fat cattle and the feeder market lower and hogs higher. Now the cattle market has retraced its gains here recently. We've given back two or three bucks a hundred weight on a lot of these fat cattle contracts --a little bit more than that in some of these feeder cattle contracts. That being said I still think we are still looking at bull markets on both of those contracts. And I do believe that you could return to a higher market there at some point in time."

Chicago December Wheat ended Thursday down a 1/4 of a cent at 6-53. December corn ended the day down 3/4 of a cent at 4-20 and 1/2.??Portland prices for soft white white were down a 1/4 of a cent at mostly 6-99 and 1/2. White club wheat prices were down a 1/4 of a cent at mostly 7-19 and 1/2. Bids for Hard Red Winter wheat with 11.5 percent protein prices were not available for November delivery. DNS wheat with 14 percent protein were down 2 and 3/4 cents at mostly 8-23 and 1/2.

?December live cattle were down 35 cents Thursday at 131-67 and half. January Feeder cattle were down 42 and half cents at 165-12 and half. December class III milk was up 4 cents at 17-90.