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Bob Larson Marketline Report for Thursday, July 18th
by Bob Larson, click here for bio

Program: Market Line
Date: July 18, 2019

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This is Bob Larson with the Market Line Report for Thursday, July 18th. Wheat trades both sides of unchanged in Wednesday’s market. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “Wheat was mixed, so it was really the triple witching day that all three traded above and below the close from yesterday. Now wheat is consolidating somewhat. Basically, wheat has been sympathetic to corn and soybeans. There’s better weather in Russia in the Black Sea region. U.S. wheat is still not competitive with certainly European wheat and so we have not gotten much business. We’ve been stuck in a range right now between $5 and $5.30. There’s big support in that $5 mark, but overall all the grains are really waiting for this heat wave to pass and that USDA acreage report will be coming on August 12th. So, we still have a lot more and after that maybe we can make some projections on what our yields are going to be.”

Chicago Sept Wheat prices closed yesterday dn 2 at 505 ¼

Sept Corn was dn ¾ at 435

Portland prices for soft white wheat of Ordinary Protein for July ended the day unch ranging from 5-75 to 6-20 Hard Red Winter wheat with 11 ½ % protein, prices for July were dn 4 ½ ranging from 5-66 ¾ to 5-76 ¾ DNS wheat with 14 % protein, prices for July were dn 2 ½ ranging from 6-02 ¾ to 6-07 ¾

Live Cattle for Aug were dn $.10 at 108.07 ½ Aug Feeder cattle are dn $.47 ½ to 140.32 ½ July Class III milk was up .07 cents at 17.38

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