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Bob Larson Marketline Report for Tuesday, November 21st
by Bob Larson, click here for bio

Program: Market Line
Date: November 21, 2017

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This is Bob Larson with the Market Line Report for Tuesday, November 21st The wheat supply continues to impact grain trading. From the floor of the CME in Chicago, here’s Virginia McGathey ...

Virginia McGathey ... “Wheat was down, really in the lower channel. Right now, the world wheat supply is just so big. It’s very difficult to get through it. It just seems that there’s just wheat everywhere. The U.S. dollar index has been lower as of late over the last couple of months, but that’s just not enough to get moving through our supplies in the U.S. But, the market did give back Friday’s gains and a little bit more, but trying to find a way to try to level this market off. Hopefully, we can get a little bit some back that it doesn’t close right on the low. But, the market is still bouncing around some. I expect that there’s going to be a lot volatility, but it does look very weak and the bears are really controlling that market right now.”

Chicago Dec Wheat prices closed yesterday dn 5 ¼ at 421 ½

December corn was up 2 at 344 ¾

Portland prices for soft white wheat of Ordinary Protein for November ended the day up 2 ranging from 5-17 to 5-35 Hard Red Winter wheat with 11 ½ % protein, prices for November were dn 6 ranging from 5-71 to 5-81 DNS wheat with 14 % protein, prices for November were dn 8 ¾ ranging from 7-46 ¼ to 7-56 ¼

Live Cattle for December were dn $1.75 at 117.20 January Feeder cattle are dn $2.17 ½ to 149.67 ½ November Class III milk was up .03 cents at 16.82

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