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Bob Larson Marketline Report for Tuesday, December 5th
by Bob Larson, click here for bio

Program: Market Line
Date: December 05, 2017

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This is Bob Larson with the Market Line Report for Tuesday, December 5th. Grains struggle to start the week. From the floor of the CME in Chicago, here’s Virginia McGathey …

Virginia McGathey ... “Corn was lower. They were unable to find any follow-through buying off Friday’s run-off. Large supplies are still weighing heavy on the futures and there’s like a negative sentiment that it could continue for the next three or four months. Wheat was unchanged and it went a little bit lower right towards the end, but the futures still remain relatively firm in spite of the fact that the world wheat glut still exists. We’re still on shaky ground right now, but we need some follow through buying to eclipse last week’s high, but we’re going to do first things first if we can keep it from having any kind of a selloff. So, a lot to watch out for before the report comes in next week, but we’re going to have some more volatility in the market and perhaps a little bit choppy sideways movement.”

Chicago Dec Wheat prices closed yesterday dn 4 ¼ at 411

December corn was dn 5 ¼ at 339

Portland prices for soft white wheat of Ordinary Protein for December ended the day unch ranging from 5-15 to 5-20 Hard Red Winter wheat with 11 ½ % protein, prices for December were dn 1 ½ ranging from 5-79 to 5-94 DNS wheat with 14 % protein, prices for December were up 3 ½ ranging from 7-34 to 7-54

Live Cattle for December were dn $.85 at 116.40 January Feeder cattle are dn $.37 ½ to 150.12 ½ December Class III milk was up .05 cents at 15.35

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