Marketline Report for Monday, December 9th

Marketline Report for Monday, December 9th

Tim Hammerich
Tim Hammerich
News Reporter
Hope of a trade deal with China is helping the soybean and pork markets, but wheat still struggles to join in on the rally. Lack of fundamental information in the wheat market was probably rescued by a jobs report Friday . From the floor of the CME in Chicago here’s Virginia McGathey.

McGathey…”Wheat was a little bit lower today. The futures continued to slide the sixth day in a row. Now we knew that it overshot the objective a little bit on that upside, and so you see the market continue to move. Lower prices did breach through a lot of the technical support numbers and some of the speculative funds are a little bit short.”

Friday wheat futures were/mixed with March closing about unchanged at $5.24.

March Corn also nearly unchanged at $3.76 ½.

Very little change in the Portland prices for soft white wheat, club wheat or Hard Red Winter wheat Friday.

Dark Northern Spring wheat prices for Dec were up $0.14 ranging from $6.42 to $6.87 for 14% protein.

Live Cattle futures up $0.55 to $125.15 on the February board. Jan Feeder Cattle were up $1.25 to $141.80.

December class iii milk was up $0.18 at $19.55.

Previous Report1.4 Billion Bushels of Corn Remain in the Field
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