Marketline Report for Monday, January 14th

Marketline Report for Monday, January 14th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Monday, Jan 14th. The uncertain trade with China still weighing on the grain market. From the floor of the CME in Chicago, here's Terry Roggensack.

ROGGENSACK ... "First big factor, to attract fund buying in the corn market would be A, a Chinese trade deal, B, the fed government shutdown resolution would be a positive factor, and C, minor weather issue in Brazil. Second big factor for the corn market, we either need to see no beans break or Dec corns going to have to rally enough to attract more acres. So, if we only have 2-million acres extra for corn in the U.S. next year, that would only bring with a high yield at 176.5, ending stocks would still only be 1.387-billion bushels. That compares with 2.293-billion bushels for the '16-'17 season."

Chicago March Wheat prices closed yesterday up 5 ¾ at 519 ¾

March Corn was up 2 at 379

Portland prices for soft white wheat of Ordinary Protein for Jan ended the day unch ranging from 6-15 to 6-35 Hard Red Winter wheat with 11 ½ % protein, prices for Jan were up 5 ¾ ranging from 6-54 ½ to 6-64 ½ DNS wheat with 14 % protein, prices for Jan were up 6 ranging from 6-65 to 6-75

Live Cattle for Feb were up $.10 at 125.07 ½ Jan Feeder cattle are dn $.62 ½ to 146.17 ½ Jan Class III milk was dn .01 cents at 14.07

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