Marketline Report for Tuesday, December 25th

Marketline Report for Tuesday, December 25th

Bob Larson
Bob Larson
This is Bob Larson with the Marketline Report for Christmas Day, Tuesday, Dec 25th. The Commodities Exchange was closed on Christmas Eve, but from the floor of the CME in Chicago, with Fridays numbers, here's Virginia McGathey.

McGATHEY ... "Wheat was down again. Russia raises its export forecast just putting some serious pressure on the market. Maybe it did get overbought too much when we ran up to $5.37 1/2 . Now, we're quite a bit lower there. Today, the market really was down .10 or .12 cents. It just seems that the futures market is so thin that the moment kind of takes over in a big way and so, on the way down, it really pushed through its objective and now we got a little bit over-sold. And so, maybe on Monday we expect that there could be a little bit more of a bounce, but that said, that just means there's going to be a lot of volatility through the end of the year. So, we have a short week next week. It should be very interesting with all the grains actually."

Chicago March Wheat prices closed yesterday dn 9 ½ at 513 ½

March Corn was up 3 ¼ at 378 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 6 ¾ ranging from 6-57 ¾ to 6-62 ¾ DNS wheat with 14 % protein, prices for Dec were dn 6 ¾ ranging from 6-71 ¼ to 6-84 ¼

Live Cattle for Dec were up $.65 at 120.92 ½ Jan Feeder cattle are dn $.07 ½ to 147.35 Dec Class III milk was up .01 cents at 13.84

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