Bob Larson Marketline Report Tuesday, July 25th
by Bob Larson, click here for bio

Program: Market Line
Date: July 25, 2017

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This is Bob Larson with the Market Line Report for Tuesday July 25th. Profit-taking in the market Monday. From the floor of the CME in Chicago, here’s Alan Knuckman ...

Knuckman ... “So, the forecasts now are focusing on the two weeks of weather ahead. Now, we have some bearish seasonal trends for this time of year and we also have price-shock potential and that’s if, a big if, if we get some more interesting weather that comes into the picture, but right now, forecast what it is, we’re talking about the weather man so it’s not a for-sure deal, unless there’s some hot-hot weather, it’ll be hard to get back above that $407 level that we saw last week. So, you’re seeing a little bit of unwind, a little bit of disappointment as the new forecasts come out. What’s important here is that high is still in tact and it’s never been attacked.”

Chicago Sept Wheat prices closed yesterday dn 10 ½ at 488 ¾ Sept corn ended the day dn 2 ½ at 376 ½

Portland prices for soft white wheat of Ordinary Protein for August ended the day dn 10 ½ ranging from 5-23 ¾ to 5-50 Hard Red Winter wheat with 11 ½ % protein, prices for August were dn 8 ½ ranging from 5-67 ½ to 5-82 ½ DNS wheat with 14 % protein, prices for August were dn 15 ¼ ranging from 8-50 ½ to 8-70 ½

Live Cattle for August were dn $2.55 at 114.25 Aug Feeder cattle were dn $4.50 at 148.47 ½ Aug Class III milk was dn $.04 cents at 15-50.

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