Marketline Report for Tuesday, November 28th

Marketline Report for Tuesday, November 28th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Tuesday, November 28th. Grains take a hit on the first day after the Thanksgiving holiday. From the floor of the CME in Chicago, here's Virginia McGathey ...

Virginia McGathey ... "Corn and wheat market were both lower. So, let's start with the corn. It was lower and really this downturn has a lot of traders concerned. It looks like the futures were just testing the new lows and perhaps we're going to go back and test the low from just last week. If that happens, there is some concern there could be some follow-through selling and push it even further and that's really what's happened with the wheat. Wheat has fallen now. The futures have just carved out another new low and that has the markets, really have just broken out of that current channel and moved down. And, it just seems that there's a negative bias to the market and it's working its way down."

Chicago Dec Wheat prices closed yesterday dn 6 ¼ at 409 ½

December corn was dn 3 ½ at 339 ¼

Portland prices for soft white wheat of Ordinary Protein for November ended the day dn 13 ¼ ranging from 5-04 ½ to 5-35 Hard Red Winter wheat with 11 ½ % protein, prices for November were dn 13 ¾ ranging from 5-67 ¼ to 5-82 ¼ DNS wheat with 14 % protein, prices for November were dn 16 ¾ ranging from 7-30 to 7-40

Live Cattle for December were up $1.25 at 119.70 January Feeder cattle are up $1.15 to 15.77 ½ November Class III milk was dn .01 cents at 16.79

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