Marketline Report for Monday, November 19th
SHELLADY ... "I tell you what, it's all about Asia and what that's doing to our markets here in the States when it comes to say livestock and/or grains. We had Japan effecting our livestock market, now we've got China all year long effecting our grain markets. Reports of a letter sent to our trade delegation lifted the hopes and buoyed sentiment amongst grain traders here in Chicago and we got off to a pretty decent start here this morning. However, right, it always seems that there's always a but or a however, after the market rallied and opened strong it started to slowly but surely give back its gains and I think, as we got the high of about $8.97 here this morning, because we couldn't break through that $9.00 level, that disappointed some investors and I think that that is why we've seen things come off."
Chicago Dec Wheat prices closed yesterday up 1 ¼ at 506 ¾
Dec Corn was dn 2 ¾ at 364 ¾
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 up 2 ¾ ranging from 6-22 ¾ to 6-37 ¾ DNS wheat with 14 % protein, prices for Nov were dn 1 ½ ranging from 6-73 ¼ to 6-81 ¼
Live Cattle for Dec were up $.20 at 115.42 ½ Jan Feeder cattle are dn $1.32 ½ to 146.45 Nov Class III milk was unch cents at 14.56