Marketline Report for Tuesday, October 29th
This is Bob Larson with the Market Line Report for Tuesday, Oct 29th. The wheat market remains firm on technical buying Monday. From the floor of the CME in Chicago, here’s Virginia McGathey.
McGATHEY … “Wheat was firm today as well. The technical buying did support some of the futures. The new recent lows did find some buying, but not much. I think all of the grains are looking for that November WASDE report on the 8th and unless the President makes an announcement that will, that will have the markets move, it looks like we could be unchanged for quite a while. The US Dollar Index was also kind of higher and that put a little bit of a lid on all the grain markets. Today, the stock market was up. That sometimes pressures these markets. We’re looking for other information to give us direction, so we’ll see as we start next week and go into the end of the month.”
Chicago Dec Wheat prices closed yesterday dn 6 at 512 ¾
Dec Corn was dn 2 ¾ at 383 ¾
Portland prices for soft white wheat of Ordinary Protein for Oct ended the day unch ranging from 6-00 to 6-05 Hard Red Winter wheat with 11 ½ % protein, prices for Oct were dn ¾ ranging from 5-77 to 5-82 DNS wheat with 14 % protein, prices for Oct were dn 9 ranging from 6-47 ¾ to 6-67 ¾
Live Cattle for Oct were up $.90 to 113.00 Oct Feeder cattle are dn $.30 to 145.45 Oct Class III milk was unch cents at 18.67
