Off Day In The Markets

Off Day In The Markets

I’m Greg Martin with the Market Line Report for Dec. 5, 2012. ?
Tuesday was a very subdued trading day. Greg Wagner with GWX Ag Advisors even sounds quite subdued in his recap of the day.

WAGNER: I think what set the tone for this market this week was Monday’s export inspections. I mean I can characterize it as being in a diplomatic way and just say they stunk.

CME Group has completed its acquisition of the Kansas City Board of Trade. CME Group Executive Chairman and President Terry Duffy says the integration of these two global wheat benchmarks will provide new trading opportunities to commercial grain market participants, wheat traders and customers who continue to rely on these tools to manage their price risk.

Chicago December Wheat ended down 2 and 3/4 cents at 8-39 1/4. December corn ended the day down 2 1/2 at 7-46 1/2.

Portland prices for soft white wheat and club wheat were up 5 3/4 to dn 8 1/2 cents at mostly 8-75 and 1/2. Hard Red Winter Wheat with 11.5 pct protein prices were down 4 1/4 cents at mostly 9-83 and 1/2. DNS wheat with 14 pct protein prices were down 3 cents at mostly 10-12 and 1/4.
December live cattle were down 87 at 126.125. January Feeder cattle were down 2 1/2 cents at 145-575. December class III milk was down 11 cents at 18-47.