Marketline Report for Thursday, December 20th
This is Bob Larson with the Market Line Report for Thursday, Dec 21st. The U.S. dollar impacting wheat in Wednesday trading. From the floor of the CME in Chicago, here's Virginia McGathey.
McGATHEY ... "Now, wheat was lower today. The U.S. dollar is very strong against the ruble and that lackluster interest kind of sinks the futures a little bit today. We were down like double-digits which we haven't seen in quite a while and I think that when you see the Russian ruble against the U.S. dollar it makes it all but impossible for the U.S. to be competitive around the world with wheat and that's why the market really slipped a lot. Now, we've had a runoff of .37-.38 cents from that $5 benchmark and now this little bit of a pullback makes some traders nervous, but we're still up pretty high in the grand scheme of things of where the markets been trading for the past couple of months."
Chicago March Wheat prices closed yesterday dn 10 ¼ at 522 ¾
March Corn was dn 3 ¾ at 381 ½
Portland prices for soft white wheat of Ordinary Protein for Dec ended the day unch ranging from 6-15 to 6-30 Hard Red Winter wheat with 11 ½ % protein, prices for Dec were dn 13 ¾ ranging from 6-63 ½ to 6-68 ½ DNS wheat with 14 % protein, prices for Dec were dn 8 ¼ ranging from 6-78 ½ to 6-85 ½
Live Cattle for Dec were dn $.05 at 119.65 Jan Feeder cattle are dn $.27 ½ to 145.95 Dec Class III milk was dn .03 cents at 13.82
