Marketline Report for Monday, October 8th

Marketline Report for Monday, October 8th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Monday, Oct 8th. Fall weather playing a role in the market Friday. From the Allendale trading desk, here's Steve Georgy.

GEORGY ... "It is October. Typically we see some kind of a bounce or we see a recovery from these lows in the month of October, we continue to surge a little bit higher, maybe because the funds continuing to buy back some of their short positions. Not that something is not extremely bullish, what it is just may a little less bearish. And so, you're finding some of these positions being bought back which is giving a little bit of support to these markets. But, keep an eye on next week, Thursday there will be another report. Expecting to see carry out numbers grow again, looking at a little bit better yields on this report as we get moving toward that. Wouldn't be surprised to see maybe a little profit taking ahead of that report as well."

Chicago Dec Wheat prices closed yesterday up ½ at 518 ½

Dec Corn was dn 2 at 365 ½

Portland prices for soft white wheat of Ordinary Protein for Oct ended the day unch ranging from 6-00 to 6-17 Hard Red Winter wheat with 11 ½ % protein, prices for Oct were up ¾ ranging from 6-33 to 6-53 DNS wheat with 14 % protein, prices for Oct were dn ¼ ranging from 6-74 ½ to 6-84 ½

Live Cattle for Oct were up $.07 ½ at 113.70 Oct Feeder cattle are up $.42 ½ to 157.40 Oct Class III milk was up .04 cents at 15.86

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