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Bob Larson Marketline Report Wednesday, July 19th
by Bob Larson, click here for bio

Program: Market Line
Date: July 19, 2017

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This is Bob Larson with the Market Line Report for Wednesday July 18th. Weather continues to play a big role on the trading floor Tuesday. From the floor of the CME in Chicago, here’s Joe Vaclavik …

Vaclavik ... “Now, weather, I think, forecast and patterns moving forward, they’re probably the bigger deal here in regard to. And we’ve seen some pretty erratic and unreliable forecasts from the GFS here recently. Now, early this morning, we were looking at a hotter, drier pattern for a lot of the corn belt. Those forecasts then shifted at midday and turned a little wetter, a little bit cooler. So, we’re seeing some volatile trade as a result of that. With the forecasts go the markets this time of year and today was really no different. Now, yield is really the name of the game here. What type of yield can traders punch into their balance sheets? And that’s kind of what we’re in the process of discovering here.”

Chicago Sept Wheat prices closed yesterday dn 2 ¼ at 504 ¼ Sept corn ended the day up 2 at 377

Portland prices for soft white wheat of Ordinary Protein for August ended the day dn 2 ¼ ranging from 5-18 ¾ to 5-45 Hard Red Winter wheat with 11 ½ % protein, prices for August were dn 4 ½ ranging from 5-72 to 5-97 DNS wheat with 14 % protein, prices for August were up 13 ¼ ranging from 8-80 ½ to 9-00 ½

Live Cattle for August were dn $1.87 ½ at 115.22 ½ Aug Feeder cattle were dn $2.82 ½ at 151.30 Aug Class III milk was dn $.06 cents at 16-61.

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