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

Program: Market Line
Date: October 24, 2018

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This is Bob Larson with the Market Line Report for Wednesday, Oct 24th. Soybeans are down in Tuesday trading. From the floor of the CME in Chicago, here’s Terry Roggensack.

ROGGENSACK … “I want to talk today about what the soybean market has done with its little bit of a rally here and are we going to see a resumption of the down-trend? We feel that we probably are going to see the market resume this overall down-trend. We’ve got bearish weather, bearish outside market forces, bearish supply-demand data with world-ending stocks and U.S. stocks at record highs. As of October 11th, cumulative export sales for soybeans have reached only 37.2% of the USDA forecast for the entire marketing year.”

Chicago Dec Wheat prices closed yesterday up 1 at 508 ¾

Dec Corn was up ¾ at 370 ¼

Portland prices for soft white wheat of Ordinary Protein for Oct ended the day unch ranging from 6-00 to 6-20 Hard Red Winter wheat with 11 ½ % protein, prices for Oct were dn ¼ ranging from 6-17 ½ to 6-37 ½ DNS wheat with 14 % protein, prices for Oct were dn ½ ranging from 6-70 to 6-80

Live Cattle for Oct were dn $.02 ½ at 112.82 ½ Oct Feeder cattle are dn $.57 ½ to 155.00 Oct Class III milk was dn .04 cents at 15.49

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