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Bob Larson Marketline Report for Monday, November 5th
by Bob Larson, click here for bio

Program: Market Line
Date: November 05, 2018

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This is Bob Larson with the Market Line Report for Monday, Nov 5th. Foreign activities rally the grain markets a bit in Friday trading. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “Now, wheat was steady today. It kind of traded on both sides of the market. Russia will possibly suspend some of their shipments from about four or five different ports. Now the interesting thing is that they’ve said this like all summer and every time we get a report like this the market starts to rally. It seems like we’re crying wolf maybe a little bit too much and that’s why we didn’t see that much of a response, so we’ve been hanging around that $5 mar. It’s become resistance and support back and forth, but we’re hanging right around there and we’re actually a little bit above it. So, mostly everything is bearish really for wheat and the total commitments completely for shipments is as worse as it’s been since 1990.”

Chicago Dec Wheat prices closed yesterday up ¾ at 508 ½

Dec Corn was up 4 ½ at 371

Portland prices for soft white wheat of Ordinary Protein for Nov ended the day up 5 ranging from 6-15 to 6-22 Hard Red Winter wheat with 11 ½ % protein, prices for Nov were up 3 ranging from 6-29 ¼ to 6-64 ¼ DNS wheat with 14 % protein, prices for Nov were up 3 ¾ ranging from 6-70 ½ to 6-90 ½

Live Cattle for Dec were dn $.05 at 117.02 ½ Nov Feeder cattle are dn $.80 to 152.27 ½ Nov Class III milk was dn .10 cents at 14.78

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