Marketline Report for Monday, December 25th
This is Bob Larson with the Market Line Report for Monday, December 25th. Trading in the wheat market was less than firm Friday. From the floor of the CME in Chicago, here's Virginia McGathey ...
Virginia McGathey ... "Wheat was soft today a little bit. The futures are weaker ahead of 2018, but the markets opened better on concerns about that frigid weather that's in the great plains and the wheat belt. This cold snap that's expected next week has everyone worried that it could damage some of the crop because there is no snow cover. It'll make it very difficult to keep the damage away. However, if the cold snap doesn't stay for a long time it might bypass us actually. But, the rise has really triggered a little bit of profit-taking. That's what happens. The market opened higher and got the profit-taking and pushed it back down. So, right now we're going to see the market move a little bit sideways. And, it's kind of a quiet day here ahead of the Christmas holiday."
Chicago March Wheat prices closed yesterday dn 2 ¼ at 425
March corn was dn ¾ at 352 ¼
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 dn 2 ranging from 5-72 ¼ to 5-82 ¼ DNS wheat with 14 % protein, prices for December were dn 5 ¼ ranging from 7-31 ¾ to 7-46 ¾
Live Cattle for December were up $.20 at 119.80 January Feeder cattle are dn $1.37 ½ to 141.80 December Class III milk was dn .01 cents at 15.43
