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Bob Larson Marketline Report for Thursday, November 15th
by Bob Larson, click here for bio

Program: Market Line
Date: November 15, 2018

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This is Bob Larson with the Market Line Report for Thursday, Nov 14th. Wheat continues to hold up under trade pressures. From the Allendale trade desk, here’s Ryan Ettner.

ETTNER … “Wheat, that was the only market that did seem to show a little bit more aggressive fund short covering yesterday. The funds still have a slight short position to cover there. Weekly exports, also in the wheat, have improved over the last three weeks, so we’ll see on Thursday if that maintain, again, a 600-thousand-ton or better number to suggest that exports are still running pretty well there. We did get a new story for wheat that maybe China’s going to open up some buying from Russia. Of course, to us that means if China does buy any Russian wheat, that opens up the door for us to be more competitive in the world market as well. So, a little bit of supportive news there. We’ll want to keep eyes open for that.”

Chicago Dec Wheat prices closed yesterday dn 12 at 506 ½

Dec Corn was dn 4 ¾ at 366

Portland prices for soft white wheat of Ordinary Protein for Nov ended the day unch ranging from 6-20 to 6-35 Hard Red Winter wheat with 11 ½ % protein, prices for Nov were dn 7 ranging from 6-26 ½ to 6-51 ½ DNS wheat with 14 % protein, prices for Nov were dn 4 ¼ ranging from 6-78 ¼ to 6-88 ¼

Live Cattle for Dec were up $.45 at 115.27 ½ Nov Feeder cattle are up $.60 to 149.05 Nov Class III milk was up .03 cents at 14.54

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