Marketline Report for Monday, November 6th

Marketline Report for Monday, November 6th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Monday, November 6th CThe grain market takes a dip Friday in Soy and Corn. From the floor of the CME in Chicago, here's Virginia McGathey ...

Virgina McGathey ... "Wheat was also lower. Futures are still hanging on to some of yesterday's upturn. Thank goodness for that because there has been a wheat glut around the world and even though we're getting some great demand, we have been able to eat through some of the supplies, many still remain and we still don't have any participation from any fund activity. It seems that all the big fund managers are playing the stock market, as well they should, since it's making another new high again. So, we're watching that closely as well as the U.S. Dollar Index. Now, that was up a little bit today too. Perhaps that put a little more pressure on all the grain markets as well. But, a lot of news is going to be coming next week. We expect a little more volatility to come back as we start the new week."

Chicago Dec Wheat prices closed yesterday dn ¼ at 426

December corn was dn 2 ¼ at 349

Portland prices for soft white wheat of Ordinary Protein for November ended the day unch ranging from 5-20 to 5-35 Hard Red Winter wheat with 11 ½ % protein, prices for November were up 1 ranging from 5-66 ¾ to 5-96 ¾ DNS wheat with 14 % protein, prices for November were up 2 ranging from 7-44 ¾ to 7-54 ¾

Live Cattle for December were up $2.95 ½ at 127.32 ½ November Feeder cattle are up $2.95 to 161.00 November Class III milk was up .01 cents at 16.56

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