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Bob Larson Marketline Report for Monday, December 4th
by Bob Larson, click here for bio

Program: Market Line
Date: December 04, 2017

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This is Bob Larson with the Market Line Report for Monday, December 4th. The grain market saw improvement on Friday. From the floor of the CME in Chicago, here’s Virginia McGathey …

Virginia McGathey ... “The market tested its lows twice now and it really got a big boost, and for the last three days the market was really surging, helping it very much and it really brought along wheat. Wheat, we thought, was perhaps going to be moving even lower, but it has firmed up for sure. The technical buying coming in really added to the up-trend sentiment. So, all the technicals are in play here. Fundamentally, we know all the news around the world. We know exactly what’s happening. The U.S. Dollar Index is just kind of staying close by so it hasn’t been affecting it that much and that’s giving the markets a little bit of a boost right now. But, we know that the long-term trend could be really bearish with all the fundamental news we know about wheat.”

Chicago Dec Wheat prices closed yesterday up 5 ¼ at 414 ¾

December corn was up 3 at 345

Portland prices for soft white wheat of Ordinary Protein for December ended the day up 2 ranging from 5-15 to 5-20 Hard Red Winter wheat with 11 ½ % protein, prices for December were up 6 ranging from 5-80 ½ to 5-97 ½ DNS wheat with 14 % protein, prices for December were up 8 ¾ ranging from 7-30 ½ to 7-56 ½

Live Cattle for December were dn $2.65 ½ at 117.10 January Feeder cattle are dn $3.85 to 150.20 December Class III milk was dn .04 cents at 15.33

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