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Bob Larson Marketline Report for Tuesday, November 13th
by Bob Larson, click here for bio

Program: Market Line
Date: November 13, 2018

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This is Bob Larson with the Market Line Report for Tuesday, Nov 13th. As demand rises, so goes the wheat market Monday. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “The big story of the day is the wheat. It rebounded well and that higher demand expected going forward is really pushing the market up as well as the reduction on the Australian Wheat Board to 2.9% of their total yield. The wheat started to get a little bit of a head of steam and then we got just overflow buying. Then short-coverings were scrambling the markets and the next thing you know, we’re up 15-16 cents. We really topped out at that $5.20 mark for the deeds contract which is a lot more than we expected, but today is kind of a thin day because it is a holiday and that just kind of overshot its objective a little bit, but the market looks actually very strong.”

Chicago Dec Wheat prices closed yesterday up 17 ¾ at 518 ¾

Dec Corn was up 1 ½ at 369 ¾

Portland prices for soft white wheat of Ordinary Protein for Nov ended the day up 5 ranging from 6-20 to 6-35 Hard Red Winter wheat with 11 ½ % protein, prices for Nov were up 6 ranging from 6-33 ½ to 6-58 ½ DNS wheat with 14 % protein, prices for Nov were up 9 ¼ ranging from 6-82 ½ to 6-92 ½

Live Cattle for Dec were up $.35 at 114.95 Nov Feeder cattle are dn $.62 ½ to 148.30 Nov Class III milk was up .04 cents at 14.50

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