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Bob Larson Marketline Report for Tuesday, November 7th
by Bob Larson, click here for bio

Program: Market Line
Date: November 07, 2017

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This is Bob Larson with the Market Line Report for Tuesday, November 7th Grains get a push from the wheat market Monday. From the floor of the CME in Chicago, here’s Virginia McGathey ...

Virgina McGathey ... “Wheat did bounce of its lows, its recent lows and some bargain hunters came up to really bid that market up and gave it a little bit of a head of steam. It was up almost 5 or 6 cents which is pretty nice compared to where it has been for the last number of months. But, overall, the fundamental sentiment is still on the bearish side for wheat with the world wheat supplies pretty right now. We’re going to have to eat through some of those supplies, certainly in the U.S., to give the market a little bit of a lift. But, today it still looks pretty good. I’m expecting relatively quiet until those report numbers come out and after that, it will give us some direction as to which way this market is going to go. And, certainly, as we look to the final numbers that come in for the yield, so we’re going to watch that closely.”

Chicago Dec Wheat prices closed yesterday up 5 at 430

December corn was dn ¼ at 348

Portland prices for soft white wheat of Ordinary Protein for November ended the day up 5 ¾ ranging from 5-25 ¾ to 5-35 Hard Red Winter wheat with 11 ½ % protein, prices for November were up 3 ¼ ranging from 5-70 to 6-00 DNS wheat with 14 % protein, prices for November were up 6 ¼ ranging from 7-51 to 7-61

Live Cattle for December were dn $1.97 ½ at 125.15 November Feeder cattle are dn $.72 ½ to 160.10 November Class III milk was up .02 cents at 16.56

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