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Bob Larson Marketline Report for Wednesday, November 22nd
by Bob Larson, click here for bio

Program: Market Line
Date: November 22, 2017

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This is Bob Larson with the Market Line Report for Wednesday, November 22nd The latest USDA report confirms corn trader expectations. From the floor of the CME in Chicago, here’s Larry Shover ...

Larry Shover ... “The USDA crop progress report did come out at 90% which really was about consensus. On the other hand, what’s providing the floor? Well, there’s rumors that there’s a Chinese buyer coming out of the Northwest perhaps matching what happened in the soybean market in which 130,000 metric tons were confirmed sold to China. Traders, creating a floor corn prices right now, hoping and really betting that there’s also going to be confirmation of China buying landed corn in the U.S. The rumor is the Pacific Northwest, but I did not start the rumor.”

Chicago Dec Wheat prices closed yesterday up 2 ¾ at 424 ¾

December corn was unch at 344 ¾

Portland prices for soft white wheat of Ordinary Protein for November ended the day unch ranging from 5-17 to 5-35 Hard Red Winter wheat with 11 ½ % protein, prices for November were up 4 ¼ ranging from 5-75 ¼ to 5-85 ¼ DNS wheat with 14 % protein, prices for November were up ¾ ranging from 7-47 to 7-57

Live Cattle for December were up $.87 ½ at 117.95 January Feeder cattle are up $2.07 ½ to 151.42 ½ November Class III milk was dn .01 cents at 16.82

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