Mixed Grain Markets

I'm Matt Rice with the Market Line Report for December 9th. Grains showing a mixed market, but overall it seems to be a steady market as we wait to hear from the USDA report as that comes out at 11 AM today. Todd Horwitz goes over the details from the floor of the CME.

Horwitz- "Tuesdays grains, we see a little bit of a mixed market, soy beans a little bit lower, wheat lower, corn a little bit higher. All eyes are waiting for tomorrows USDA report, and in all honestly, I really don't care. I think the report means absolutely nothing. I think once you understand where we are in the overall market cycle you will learn these reports are more noise and not worth anything. Could it create some volatility tomorrow? Yes, you could see some quick volatility and some quick spikes if you're an active trader and you want to take a shot."

Chicago December Wheat ended yesterday up 1/2, at 470 1/4. December corn ended yesterday up 1 1/2, at 370 1/4. Portland prices for soft white wheat of ordinary protein for Jan were dn 1 1/4, ranging from 4-81 1/2 to 5-34. Hard Red Winter wheat with 11 ½ % protein, prices for Dec. were dn 2, ranging from 5-52 1/2 to 5-67 1/2. DNS wheat with 14 % protein, prices for Dec. were dn 4 1/4, ranging from 6-20 1/4 to 6-50 1/4. Dec. live cattle closed yesterday dn 45 cents, at 121.17 1/2. Jan. Feeder cattle were took a dip, dn $4.20, at 152.25. Dec. class III milk was up 2 cents, at 14-60.