Marketline Report for Tuesday, December 18th

Marketline Report for Tuesday, December 18th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Tuesday, Dec 18th. Grains held firm in Monday's commodity trade. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "Wheat was the real winner today. It was much higher. That improved export demand really is on the move on the upside. Global wheat prices are very strong right now and I think that's like getting a little shot in the arm here for the wheat market and we have gone above and beyond what we had expected. And, I think that there is an expectation that the market, this market, are really going to start to move so you're going to see a number of fund managers are getting long wheat certainly covering any shorts that they have and just in the injection of moving their position their positions that way is starting to drive the prices higher, certainly higher than we've seen over the last number of months."

Chicago March Wheat prices closed yesterday up 5 ¼ at 535

March Corn was dn ¾ at 383 ½

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 up 3 ¾ ranging from 6-82 to 6-92 DNS wheat with 14 % protein, prices for Dec were up 1 ¼ ranging from 6-95 ¼ to 7-02 ¼

Live Cattle for Dec were dn $.55 at 118.95 Jan Feeder cattle are dn $2.20 to 145.37 ½ Dec Class III milk was up .02 cents at 13.80

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