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Bob Larson Marketline Report for Tuesday, November 20th
by Bob Larson, click here for bio

Program: Market Line
Date: November 20, 2018

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This is Bob Larson with the Market Line Report for Tuesday, Nov 20th. Wheat prices are down amid continuing trade questions. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “This is the first week that we have not hit that USDA forecast for sales and that just tells us that there’s not much around for us to be excited about. We have a very slow October and November forecast for these futures and that’s what really pushed this market lower. Will December be any better? It’s really hard to say. Where the down-trend is starting to really firm up here and the commitments for this week are the lowest they have been in three years, but the President himself can turn this thing around if we can get to the table with the U.S.-China tariff talks if we start negotiations or even have an idea that there’s going to be something better on the horizon, I think we can get these markets to turn around.”

Chicago Dec Wheat prices closed yesterday dn 8 ¼ at 498 ¼

Dec Corn was dn 2 ½ at 362 ¾

Portland prices for soft white wheat of Ordinary Protein for Nov ended the day dn 5 ranging from 6-15 to 6-35 Hard Red Winter wheat with 11 ½ % protein, prices for Nov were dn 8 ½ ranging from 6-14 ¼ to 6-29 ¼ DNS wheat with 14 % protein, prices for Nov were dn 3 ¾ ranging from 6-69 ½ to 6-81 ½

Live Cattle for Dec were up $.80 at 116.20 Jan Feeder cattle are up $.75 to 146.97 ½ Nov Class III milk was dn .04 cents at 14.54

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