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Bob Larson Market Line Report Wed. April 19th
by Bob Larson, click here for bio

Program: Market Line
Date: April 19, 2017

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This is Bob Larson with the Market Line Report for Wednesday April 19th . Grain markets were mixed yesterday with corn and wheat finding bargain hunters. Here’s Joe Vaclavik from the floor of the CME in Chicago with more on the market.

Vaclavik “Soybean market was sharply lower here on Tuesday. You know, the first big concern here among traders is the supply base. We had record production out of the U.S. in 2016 and South America is in the process of harvesting a record crop there. So, between your two major producers here globally, we’re just looking at massive output which is really burning the market and that’s why we’ve seen so much downside in this market recently. We’ve seen a big sell-off that’s really spanned to January, really into March and into April time-frame.”

Chicago May Wheat prices closed yesterday up 1 ½ at 421 ¼ . May corn ended the day dn 4 ¾, at 361 ¼

Portland prices for soft white wheat of Ordinary Protein for May ended the day up 1 ½ ranging from 4-25 ½ to 4-75 Hard Red Winter wheat with 11 ½ % protein, prices for May were up 3, ranging from 4-99 ¼ to 5-09 ¼. DNS wheat with 14 % protein, prices for May were up 10 ½ ranging from 6-39 ¼ to 6-74 ¼ .

Live Cattle were up $1.05, at 126.42 ½. May Feeder cattle were up $1.75 at 140.42 ½. Class III milk was up 01 cents at 15-24.

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