World Grain Harvests Fluctuating

World Grain Harvests Fluctuating. I’m Greg Martin with the Market Line Report for Dec. , 2012.

While the northwest saw a fairly good grain harvest this year that is not the case for most of the rest of the drought stricken states. Frank Lesh with Future Path Trading talks though about the international grain harvest.

LESH: Russian grain harvest down possibly down 20 to 25%. Australian wheat production possibly down 20 to 25%. And brighter news I guess, Canadian wheat production is expected up and we’re looking for Canada to be more involved in the export business this year because the Canadian Wheat Board is no longer in control. Some of the individual producers are going to be able to tap that market on their own so look for more Canadian wheat coming into the world markets here.

Chicago December Wheat ended up 3 cents at 8-45 1/4.

December corn ended the day down 5 at 7-48 1/4.

Portland prices for soft white and club wheat were up 2 at mostly 8-84 and 1/2.
Hard Red Winter Wheat with 11.5 pct protein prices were up 4.25 to 1.25 at mostly 9-95.
DNS wheat with 14 pct protein prices were up 3 at mostly 10-20 and 1/4.
December live cattle were off .07 1/2 at 126-3/4.

January Feeder cattle were up 1.85 cents at 148-1/4.

December class III milk was up 3 cents at 18.50.