Daily News Reports »

Bob Larson Marketline Report for Thursday, May 9th
by Bob Larson, click here for bio

Program: Market Line
Date: May 09, 2019

Click on the play button to listen to report.

Download Report: Marketline_Report_for_Thursday,_May_9th.mp3

This is Bob Larson with the Market Line Report for Thursday, May 9th. Wheat holds firm in the face of supply challenges in Wednesday trading. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "Australia, right now, is starting to get a little bit of rain in that drought area and that's not looking good for our wheat right now. We know that China has had record supplies as well so that's going to be a big competition and that's definitely going to weight on ways on futures and it will stop any kind of significant rally going forward. That being said, again, we're waiting on that trade deal. If we get that, we can kind of get things moving forward. So, we are in the 12th month of the trade deal really being implemented last year. So, never in the history have we seen this kind of issues going on with these grain markets, so we're in a place we haven't seen before and these are just not normal times."

Chicago May Wheat prices closed yesterday up ¾ at 430

May Corn was dn 2 ¾ at 355 ¾

Portland prices for soft white wheat of Ordinary Protein for May ended the day up 15 ranging from 5-75 to 5-85 Hard Red Winter wheat with 11 ½ % protein, prices for May were dn ½ ranging from 5-63 ½ to 5-83 ½ DNS wheat with 14 % protein, prices for May were dn 1 ¼ ranging from 6-20 ½ to 6-25 ½

Live Cattle for Jun were dn $1.20 at 111.12 ½ May Feeder cattle are dn $1.52 ½ to 135.52 ½ May Class III milk was dn .04 cents at 16.39

Recent Reports from Market Line

Click here to see Archived Reports