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Bob Larson Marketline Report for Tuesday, October 24th.
by Bob Larson, click here for bio

Program: Market Line
Date: October 24, 2017

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This is Bob Larson with the Market Line Report for Tuesday, October 24th Grain traders were busy on Monday. From the floor of the CME in Chicago, here’s Virginia McGathey ...

Virginia McGathey ... “Corn was surging today. The futures rally ahead of the USDA crop progress report that’s coming up. The yield numbers have been here yet and we’re still looking to kind of get the market off the ground because it has been kind of low. But, technically, the trend still is lower so there is some vulnerability so it seems the market has kind of stalled out as did the wheat market as well. Wheat did jump up, you know, there was a big short-covering. That gave futures a big lift with the weather the way it has been and disrupting some of the fall planting for the winter wheat. So, that’s helping that market. And, finally, all three are off the ground and we’ll see what happens with this crop progress report and we expect volatility to be on the forefront, certainly for the next week or so.”

Chicago Dec Wheat prices closed yesterday up 10 ¾ at 436 ¼

December corn was up 6 ¾ at 351

Portland prices for soft white wheat of Ordinary Protein for October ended the day up 9 ranging from 5-30 to 5-40 Hard Red Winter wheat with 11 ½ % protein, prices for October were up 10 ¾ ranging from 5-93 ½ to 5-98 ½ DNS wheat with 14 % protein, prices for October were up 3 ¾ ranging from 7-45 to 7-50

Live Cattle for Oct were dn $.15 at 111.27 ½ October Feeder cattle are up $.05 to 153.55 October Class III milk was up .01 cents at 16.61

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