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Bob Larson Marketline Report for Thursday, November 16th
by Bob Larson, click here for bio

Program: Market Line
Date: November 16, 2017

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This is Bob Larson with the Market Line Report for Thursday, November 16th Grains traders appear to be waiting for action in the corn market. From the floor of the CME in Chicago, here’s Todd Horwitz ...

Todd Horwitz ... “I think when you get down below this $340 level, you’re going to start to attract some new money and some buyers, and then if you take into consideration that the equity markets might be starting to sell off a little bit. That would bring in some alternative money as well. So, what we’re looking for here is a spot to actually buy corn because of everything that’s going on. You know, when markets get too oversaturated and it’s just too easy to be short that’s usually about the time it gets ready to turn around. So, when you weigh what you have to risk here, the risk is actually very minimal to what could be possibly be the upside coming here in corn. That’s what we’re looking for. We’re looking for a spot to be a buyer and I think anywhere in here seems to be a great spot to step in and buy.”

Chicago Dec Wheat prices closed yesterday dn 8 at 420 ¾

December corn was up ¾ at 338 ½

Portland prices for soft white wheat of Ordinary Protein for November ended the day dn 6 ranging from 5-18 to 5-35 Hard Red Winter wheat with 11 ½ % protein, prices for November were dn 10 ¼ ranging from 5-72 ¾ to 5-82 ¾ DNS wheat with 14 % protein, prices for November were dn 4 ¼ ranging from 7-44 ¾ to 7-54 ¾

Live Cattle for December were up $.70 at 120.07 ½ November Feeder cattle are up $.37 ½ to 157.90 November Class III milk was up .03 cents at 16.85

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