Market Line Report for Tuesday, December 24th
No big swings in the markets to start this holiday week, but plenty of talk about looking ahead to 2020. From the floor of the CME in Chicago, here is Virigia McGathey.
McGathey…”Once 2020 comes and we can see if we're going to be able to participate with the China purchases that could turn this market around. But right now it looks like it's kind of just sagging somewhat. The markets are very thin and they're absolutely vulnerable to big volatility. There has been some options trades in a wheat, corn, and soybeans in the 2021 contracts. So that tells me that there's a lot of people getting involved in this market and we've got a long way to go but they expect to have some good things coming next year.”
Chicago March Wheat futures started the week by closing down $0.02 ½ to $5.39 1/2.
Monday March Corn closed up a penny to $3.88 ½.
Kansas City Hard Red Winter wheat futures down $0.03 ½ $4.58 1/2.
Portland prices UNCHANGED for soft white wheat of ordinary protein. Bids range from $5.90 to $6.00.
Club Wheat of Ordinary Protein bids unchanged as well ranging from $6.00 to $7.40.
Dark Northern Spring wheat prices were down just a half cent yesterday ranging from $6.67 ¼ to $7.12 ¼ for 14% protein.
Live Cattle futures were down $0.12 1/2 to $125.67 1/2 on the February board. Jan Feeder Cattle were down $0.65 to $143.72 ½.
Class III milk was up $0.07 to $17.43.