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Bob Larson Market Line Report Thursday May 4th
by Bob Larson, click here for bio

Program: Market Line
Date: May 04, 2017

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This is Bob Larson with the Market Line Report for Thursday May 4th. Things have settled on the trading floor after a wild ride earlier in the week. With more from the floor of the CME in Chicago, here’s Alan Knuckman …

Knuckman … “Lower highs today, 456, and lower lows, 446, than we saw on Tuesday after the surge. Things are stable after the big bump up where we saw an 8% jump over two days on the wild weather we’ve seen in the Midwest to bring wheat to a two month highs here yesterday. So, the weather woes and the major concerns over the wild winds and the snow and the blowing and the cold having a detrimental impact on the wheat harvest, the potential harvest, being now 25 % shorter than people had expected possibly. Again, we won’t know until harvest, what damage has been done .”

Chicago May Wheat prices closed yesterday up 1 ½ at 440 ¾ May corn ended the day up 2 ¼ at 366

Portland prices for soft white wheat of Ordinary Protein for May ended the day up 1 ranging from 4-63 to 4-85 Hard Red Winter wheat with 11 ½ % protein, prices for May were dn 4 ½ ranging from 5-33 ¼ to 5-40 ¼ DNS wheat with 14 % protein, prices for May were up 3 ¾ ranging from 6-47 ¼ to 6-81 ¼

Live Cattle were up $3.00 at 130.05 May Feeder cattle were up $3.65 ½ at 153.50 Class III milk was up 02 cents at 15-35.

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