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Bob Larson Marketline Report for Tuesday, December 4th
by Bob Larson, click here for bio

Program: Market Line
Date: December 04, 2018

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This is Bob Larson with the Market Line Report for Tuesday, Dec 4th. Russian wheat creates volatility in U.S. trade Monday. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “Wheat was very volatile today. The market really started much higher. Russia remains a serious issue in this market. Their aggression against the Ukraine is playing a big role in this market and that’s why the squeeze is on and the market starts to rally. Well, once the report came out we had, kind of, those two things really push the market higher, but instantly the selling came in and brought it all the way back down. Even though we’re higher by maybe five or six cents right now, I think that we have to watch out for where the facts are to see if we can hold on to this market. Right now this .14 cent rally really started off pretty good, but that sell off was so strong that it makes you wonder if we can keep this afloat.”

Chicago Dec Wheat prices closed yesterday unch at 515

Dec Corn was up 4 ¾ at 370 ¾

Portland prices for soft white wheat of Ordinary Protein for Dec ended the day dn 5 ranging from 6-15 to 6-30 Hard Red Winter wheat with 11 ½ % protein, prices for Dec were dn 3 ¾ ranging from 6-56 ½ to 6-76 ½ DNS wheat with 14 % protein, prices for Dec were dn 6 ¼ ranging from 6-82 ½ to 7-05 ½

Live Cattle for Dec were dn $.05 at 116.97 ½ Jan Feeder cattle are dn $.72 ½ to 144.52 ½ Dec Class III milk was up .04 cents at 14.02

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