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Bob Larson Marketline Report for Tuesday, December 19th
by Bob Larson, click here for bio

Program: Market Line
Date: December 19, 2017

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This is Bob Larson with the Market Line Report for Tuesday, December 19th. The grain market bounces back a little on Monday. From the floor of the CME in Chicago, here’s Virginia McGathey …

Virginia McGathey ... “Wheat was also on the rise today, which was kind of interesting. There’s a little short-term sort of bullish-like recovery pattern right now. It’s been up for the fourth day in a row and wheat was suffering from an oversold situation. I know that there’s been some concern about some dryness in some of the wheat-belt areas, but overall the world wheat stocks are really huge and the U.S., it’s been very difficult to be competitive around the world and so we have to find other ways to eat through some of those supplies. So, we’re watching that closely although wheat does look pretty here today. That’s all from the floor of the CME Group. I’m Virginia McGathey.”

Chicago March Wheat prices closed yesterday up 2 ¼ at 420 ½

March corn was dn ½ at 347

Portland prices for soft white wheat of Ordinary Protein for December ended the day unch ranging from 5-11 to 5-30 Hard Red Winter wheat with 11 ½ % protein, prices for December were up 6 ¾ ranging from 5-69 ¼ to 5-79 ¼ DNS wheat with 14 % protein, prices for December were dn ¾ ranging from 7-39 ¼ to 7-45 ¼

Live Cattle for December were up $1.07 ½ at 120.10 January Feeder cattle are dn $.10 to 147.80 December Class III milk was dn .01 cents at 15.49

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