Marketline Report for Tuesday, November 27th
This is Bob Larson with the Market Line Report for Tuesday, Nov 27th. Russian wheat gives the grain market a boost in Monday trading. From the floor of the CME in Chicago, here's Virginia McGathey.
McGATHEY ... "The only grain that was actually on the upside was wheat. It rallied today. The news out of Russia really boosted the futures and the market has been relatively thin and that's where you get some buying coming in and we get the market to move pretty quickly. It was up a little bit over 7-cents today, but there's real worry that Russia is really trying to take over some of those ports in that Crimea area. It's very possible that it won't really effect fundamentally the wheat, but because of the unrest it is disrupting the pipeline a little bit and that gave the futures contracts in the Chicago and Kansas City wheat a little bit of a boost today, so the market is well above that $5 benchmark that we've been watching and up about 7-cents today."
Chicago Dec Wheat prices closed yesterday up 7 ¾ at 507 ½
Dec Corn was dn 3 at 356 ¼
Portland prices for soft white wheat of Ordinary Protein for Nov ended the day unch ranging from 6-15 to 6-35 Hard Red Winter wheat with 11 ½ % protein, prices for Nov were dn 3 ½ ranging from 6-04 ½ to 6-19 ½ DNS wheat with 14 % protein, prices for Nov were unch ranging from 6-72 to 6-87
Live Cattle for Dec were dn $.17 ½ at 117.05 Jan Feeder cattle are dn $.22 ½ to 149.05 Nov Class III milk was up .01 cents at 14.48
