Marketline Report for Thursday, November 14th

Marketline Report for Thursday, November 14th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Thursday, Nov 14th. Wheat does an about face Wednesday and gives back Tuesday’s gains. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “The wheat kind of took back all the gains that it had yesterday, so that just shows how much volatility is actually out there. It really stems from the cold weather, no snow cover, winter kill, all those kinds of things really make the market bounce around. But, the supplies remain the focus and will be a problem for the rest of the winter and I think that’s what’s putting some pressure on the market. Still, the U.S.-China deal is going to be front-and-center and overall the U.S. dollar index is so strong right now and it is absolutely putting a cap on any kind of significant rally from here on out. So, those two things we’re going to be watching going forward.”

Chicago Dec Wheat prices closed yesterday dn 8 at 508 ¾

Dec Corn was dn 2 ½ at 375 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 14 ranging from 5-84 ¾ to 5-99 ¾ DNS wheat with 14 % protein, prices for Nov were dn 6 ½ ranging from 6-60 ¼ to 6-90 ¼ Club Wheat of Ordinary Protein for Nov were unch ranging from 5-95 to 7-70

Live Cattle for Dec were dn $1.65 to 118.32 ½ Nov Feeder cattle are dn $2.22 ½ to 145.60 Nov Class III milk was up .13 cents at 20.17

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