Marketline Report for Friday, October 18th

Marketline Report for Friday, October 18th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Friday, Oct 18th. Unlike soybeans, the corn market lacks a strong trading narrative in recent days. From the floor of the CME in Chicago, here’s Scott Shellady.

SHELLADY … “Let’s continue with this afternoon’s theme of China and what’s been happening out there. Let’s go over and talk about soybeans. Soybeans, obviously in the crosshairs. It’s been a big topic of conversation as of late and it should be because, heck, we just had almost a dollar rally, a dollar rally. So, a dollar rally, you had beans in the eights before, now we’re knocking on the door of 9.50. Are we going to see something, technically speaking, and or, fundamentally speaking, that’s going to be able to get us through that 9.50 level? It could be a Tweet or it could be something out of China, but yes, 9.50’s been an area that a lot of the technicians are looking for for us to kind of break through.”

Chicago Dec Wheat prices closed yesterday up 12 ¼ at 525

Dec Corn was up 3 at 393 ¾

Portland prices for soft white wheat of Ordinary Protein for Nov ended the day up 3 ranging from 6-03 to 6-05 Hard Red Winter wheat with 11 ½ % protein, prices for Oct were up 6 ¼ ranging from 5-86 ¼ to 5-96 ¼ DNS wheat with 14 % protein, prices for Oct were up 1 ½ ranging from 6-72 to 6-92

Live Cattle for Oct were up $.05 to 12.40 Oct Feeder cattle are dn $1.02 ½ to 144.05 Oct Class III milk was up .01 cents at 18.63

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