Marketline Report for Friday, November 8th
This is Maura Bennett with the Market Line Report for Friday, Nov 8th.
Investors about to comb through the USDA’s World Agricultural
Supply and Demand report . From the floor of the CME in Chicago, here’s Scott Shellady
Shellady: Big fundamental news dump. We’re going to get everything we want to see. But until then we’re going to have to look at the technicals and then ultimately, you’re going to have to put those two together and kind of read the tea leaves and that’s what you’re going to have to make your decisions on going forward. So to the downside, we’re looking at 909. That’s what the technical traders are going to be looking at. How does the fundamental news effect that.”
Chicago Dec Wheat prices down yesterday 4 ¼ at 512 ¼.
Dec Corn was dn 31/2 at 374 ¾
Portland prices for soft white wheat of Ordinary Protein for Nov ended the day unch ranging from 5-95 to 6-00
Hard Red Winter wheat with 11 ½ % protein, prices for Nov were dn 3.00 ranging from 5-84 3/4 to 5-94 3/4
DNS wheat with 14 % protein, prices for Nov were down 41/2 ranging from 6-58 ¾ to 6-88 ¾
Club Wheat of Ordinary Protein for Nov were unchanged ranging from 6-00 to 7-70
Live Cattle for Dec were unchanged at 119.17 ½
Nov Feeder cattle are down $0.25 at 146.82 1/4
Nov Class III milk was down .30 cents at 19.93