Marketline Report for Thursday, December 13th

Marketline Report for Thursday, December 13th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Thursday, Dec 13th. Confusion in the grain market as wheat jumps higher. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "Wheat was higher as well. That Aussie production number came out today and it's been the lowest since 2008, and I think it was from 2006 to 2008 that the lowest production that they have there. So, the real numbers came out and really gave wheat a shot in the arm in spite of all the bearish news that there is, but the futures are still showing a lot of strength. Interestingly enough, there was some sell-off, a little bit, as corn and wheat started to sell-off, but wheat firmed back up here towards the close and kind of ended up closer to its high which is kind of a surprise. But, traders are still kind of scratching their head, but they know that what's been happening is wheats just been playing the back and forth game and one day its up and the next day its down and you can kind of count on that for the last number of weeks."

Chicago Dec Wheat prices closed yesterday up 5 ½ at 517 ¾

Dec Corn was up 1 ¼ at 376 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 up 6 ½ ranging from 6-71 ¼ to 6-81 ¼ DNS wheat with 14 % protein, prices for Dec were up 7 ¾ ranging from 6-93 to 7-01

Live Cattle for Dec were up $.75 at 119.20 Jan Feeder cattle are up $.27 ½ to 147.62 ½ Dec Class III milk was up .01 cents at 13.72

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