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Bob Larson Marketline Report for Thursday, January 11th
by Bob Larson, click here for bio

Program: Market Line
Date: January 11, 2018

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This is Bob Larson with the Market Line Report for Thursday, January 11th. Wheat holds steady in the market on Wednesday. From the floor of the CME in Chicago, here’s Virginia McGathey …

Virginia McGathey ... “Wheat kind of bounced around a little bit, but we got some support in the futures that kind of gave the prices somewhat of a boost. There is still some weather concerns about the wheat because we’re expecting some frigid weather again next week, but the up-trend is still remaining intact even though long-term there’s a lot of wheat out there. It was really on the down-side, but the market still keeps to be marching ahead. So, the next target looks like $437. You know, perhaps we’ll get there. We’re only a couple of cents away. If that happens and we get a new wave of buying, this could be really great for wheat because it really tumbled a lot from its high when we rallied in June.”

Chicago March Wheat prices closed yesterday up 2 at 434

March corn was unch at 349

Portland prices for soft white wheat of Ordinary Protein for January ended the day unch ranging from 5-27 to 5-34 ¼ Hard Red Winter wheat with 11 ½ % protein, prices for January were up 1 ½ ranging from 5-85 ½ to 6-00 ½ DNS wheat with 14 % protein, prices for January were up 3 ¼ ranging from 7-49 to 7-69

Live Cattle for February were dn $.80 at 116.60 January Feeder cattle are dn $1.10 to 144.02 ½ January Class III milk was up .01 cents at 13.81

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