Expect Some Fireworks

Expecting Fireworks. I’m Greg Martin with the Market Line Report for Nov. 16, 2012.
The first full week after the election has not really seen a lot of action on the markets and then of course next week is the Thanksgiving holiday and a shortened market week so traders like Chris Robinson with Top Third Ag expect some fireworks.

ROBINSON: Nothing fundamentally has changed. The weather in South America has not changed radically this week. There’s still concerns that it’s too wet in certain parts of the area. We have seen issues with the level of the Mississippi being too low which potentially could lower our ability to export. So you could see a lot of positions trading tomorrow and Monday and Tuesday.

Chicago December Wheat ended down 3 1/4 cents at 8-45 1/2.

December corn ended the day off 4 1/4 at 721 1/4.

December Portland prices for soft white wheat and club wheat were up 1.25 to down 3.25 ranging between 8-65 and 8-65 and 1/2.

Hard Red Winter Wheat with 11.5 pct protein prices were up 3.25 at mostly 9-71 and 1/2.

DNS wheat with 14 pct protein prices were up 2.50 to down 2.50 at mostly 10-08 and 3/4.
December live cattle were up .175 at 125.6

November Feeder cattle were up .275 at 145.15

November class III milk was down 11 at 20-79

I'm Greg Martin and that's Marketline on the Ag Information Network.