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Bob Larson Marketline Report for Monday, December 11th
by Bob Larson, click here for bio

Program: Market Line
Date: December 11, 2017

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This is Bob Larson with the Market Line Report for Monday, December 11th. Uncertainty in the grain market is reflected in prices. From the floor of the CME in Chicago, here’s Virginia McGathey …

Virginia McGathey ... “Wheat was mixed today and two-sided trade was just enough to offer minimal optimism here. The market did slip certain times of the day and so it’s just showing some weakness. Everyone’s a little bit worried. There has been some light buying that really stopped the bleeding. So, even though the market’s been down a couple of cents it isn’t like a free-for-all because we know that the global supplies are really huge. The US Dollar Index is up slightly, not that big, but it still makes it very difficult for the US farmers in wheat to be able to compete against the world. So, we’re competing against Russia and certainly the European Union, but global supplies are really large and it’s going to make it very challenging.”

Chicago Dec Wheat prices closed yesterday dn 2 ¼ at 392

December corn was up 1 ¼ at 340

Portland prices for soft white wheat of Ordinary Protein for December ended the day dn ½ ranging from 5-06 to 5-30 Hard Red Winter wheat with 11 ½ % protein, prices for December were up 2 ¼ ranging from 5-68 to 5-78 DNS wheat with 14 % protein, prices for December were up ¼ ranging from 7-31 to 7-36

Live Cattle for December were dn $.05 at 115.32 ½ January Feeder cattle are dn $1.10 to 144.97 ½ December Class III milk was up .10 cents at 15.61

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