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Bob Larson Marketline Report Wednesday, July 26th
by Bob Larson, click here for bio

Program: Market Line
Date: July 26, 2017

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This is Bob Larson with the Market Line Report for Wednesday July 26th. The ups and downs continue in the market Tuesday. From the floor of the CME in Chicago, here’s Joe Vaclavik ...

Vaclavik ... “The USDA released a crop progress report on Monday afternoon. They told us that 57% of the soybean crop was rated good to excellent. That was a 4% decline on the week. So, the trade viewed that as being friendly. So, after that report, the market opened sharply higher on Monday night and traded 20 to 25 cents higher at one point on Monday night. Now, into Tuesday morning we saw some new weather forecasts. The GFS model told us that we are going to see a much wetter pattern emerge over a lot of the western corn belt in particular. The drier portions of Iowa should see a couple inches of rain over the next seven days. That was seen as being negative. The market did nothing but sell off for most of the day here on Tuesday and we were left with a lower trade.”

Chicago Sept Wheat prices closed yesterday dn 14 ¾ at 474 ¾ Sept corn ended the day dn 8 ½ at 369 ¼

Portland prices for soft white wheat of Ordinary Protein for August ended the day dn 14 ¾ ranging from 5-09 to 5-30 Hard Red Winter wheat with 11 ½ % protein, prices for August were dn 24 ¾ ranging from 5-42 ¾ to 5-67 ¾ DNS wheat with 14 % protein, prices for August were dn 33 ¼ ranging from 8-17 ½ to 8-37 ½

Live Cattle for August were dn $.70 at 113.40 Aug Feeder cattle were dn $1.92 ½ at 146.70 Aug Class III milk was up $.33 cents at 16-34.

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