Marketline Report for Monday, December 17th

Marketline Report for Monday, December 17th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Monday, Dec 17th. Grains were mixed in Friday trading, including wheat. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "Wheat was mixed a little bit today. I think that runup yesterday was just a little bit too much and maybe there was some profit-taking coming in, but the futures did slip after that rally and, interestingly enough, as all fundamentals are really very bullish for wheat. The export demand really good. We've had the second largest week for the year last week, for the exports, for the shipments. There has been quality concerns from Argentina, Russia, from Australia, all these things are really bullish and yet the market kind of sold off and it seems everyone wants to take everything off the table as the week ends here, but we're going to start Monday again and we should pick back up. I think that that's all there is for wheat."

Chicago Dec Wheat prices closed yesterday unch at 526 ¼

Dec Corn was up 1 ¼ at 378 ¼

Portland prices for soft white wheat of Ordinary Protein for Dec ended the day unch ranging from 6-15 to 6-30 Hard Red Winter wheat with 11 ½ % protein, prices for Dec were dn 1 ¾ ranging from 6-78 ¼ to 6-88 ¼ DNS wheat with 14 % protein, prices for Dec were dn 4 ¼ ranging from 6-94 to 7-01

Live Cattle for Dec were up $.12 ½ at 119.75 Jan Feeder cattle are dn $.40 to 147.42 ½ Dec Class III milk was up .03 cents at 13.78

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