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Bob Larson Marketline Report for Friday, December 8th
by Bob Larson, click here for bio

Program: Market Line
Date: December 08, 2017

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This is Bob Larson with the Market Line Report for Friday, December 8th. The grain market takes a hit on Thursday. From the floor of the CME in Chicago, here’s Virginia McGathey …

Virginia McGathey ... “Wheat is the big one today that really fell. So, it was another new contract low and really breaking out of the range on the down-side. The Canadian harvest numbers were much larger than expected and that’s just adding to the global supply. It makes it very, very difficult for the U.S. farmers to be competitive around the world. If the U.S. dollar index doesn’t come down a little bit, it’s going to make it more difficult for us to be competitive. Demand just isn’t quite there yet to give us some room to try to offer some support for the wheat complex across the board. Even Kansas City wheat was up yesterday, but now has started to fall today as well.”

Chicago Dec Wheat prices closed yesterday dn 4 ¼ at 394

December corn was dn ½ at 338 ¾

Portland prices for soft white wheat of Ordinary Protein for December ended the day dn 5 ¾ ranging from 5-06 ½ to 5-30 Hard Red Winter wheat with 11 ½ % protein, prices for December were dn 7 ¾ ranging from 5-65 ¾ to 5-80 ¾ DNS wheat with 14 % protein, prices for December were dn 2 ¾ ranging from 7-31 to 7-36

Live Cattle for December were dn $.27 ½ at 115.55 January Feeder cattle are up $.30 to 146.40 December Class III milk was up .12 cents at 15.54

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