Marketline Report for Friday, November 15th

Marketline Report for Friday, November 15th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Friday, Nov 15th. Fund shorts weighing on the corn market in Thursday trading. From the floor of the CME in Chicago, here’s Scott Shellady.

SHELLADY … “Let’s talk quickly, well not quickly, we can talk about corn, kind of just hanging around here just waiting to do what it wants to do next. We have to kind of take a look at the technicals when we are done with our fundamental news. We just got that last report on Friday, mildly bullish, but we’re still not really reacting. And, I think things are being weighed down a little bit by the fact that we’ve got reports out there that the funds are short about a hundred-thousand contracts. That’s not massive, but that shows you what their inkling is, number one, and number two is you know maybe that’s just the fuel that the fire needs for a little bit of a squeeze higher. So, we’ve gotta have to keep that in mind, right? That’s going to be something that could light this thing on fire and get these bulls what they want before the end of the year.”

Chicago Dec Wheat prices closed yesterday dn 1 ¼ at 507 ½

Dec Corn was up ½ at 375 ¼

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 2 ½ ranging from 5-82 ¼ to 5-97 ¼ DNS wheat with 14 % protein, prices for Nov were dn 2 ½ ranging from 6-57 ¾ to 6-87 ¾ Club Wheat of Ordinary Protein for Nov were unch ranging from 5-95 to 7-70

Live Cattle for Dec were up $.97 ½ to 119.20 Nov Feeder cattle are up $1.05 to 146.72 ½ Nov Class III milk was up .05 cents at 20.24

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