Marketline Report for Tuesday, October 31st
This is Bob Larson with the Market Line Report for Tuesday, October 31st Not much action on grain market Monday leaves traders wondering. From the floor of the CME in Chicago, here's Virginia McGathey ...
Virginia McGathey ... "Corn was unchanged. The quiet trade today, it was in a tight range and it really held the futures very steady. The market remains in a consolidative phase dating back to August and, you know, it seems like it's a very significant level at the $342-and-a-half mark. We're also watching wheat. Wheat has been teetering with its lows as well because it was lower today. Futures were making a new recent low and it has some traders concerned that we could really break out on the down-side. There's worry that the bearish news coming out of this USDA crop progress report could possibly put more pressure on the wheat market."
Chicago Dec Wheat prices closed yesterday dn 2 ½ at 425
December corn was unch at 348 ¾
Portland prices for soft white wheat of Ordinary Protein for November ended the day dn 2 ½ ranging from 5-14 ¾ to 5-33 Hard Red Winter wheat with 11 ½ % protein, prices for November were dn 3 ½ ranging from 5-61 ¾ to 5-86 ¾ DNS wheat with 14 % protein, prices for November were up 1 ½ ranging from 7-33 ¼ to 7-53 ¼
Live Cattle for Oct were up $4.20 ½ at 119.10 October Feeder cattle are up $1.85 to 158.10 November Class III milk was up .11 cents at 16.71
