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Bob Larson Marketline Report for Wednesday, August 16th
by Bob Larson, click here for bio

Program: Market Line
Date: August 16, 2017

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This is Bob Larson with the Market Line Report for Wednesday, August 16th. Weather continues to be the biggest factor for traders. From the floor of the CME, here’s Terry Roggensack ...

Roggensack ... “Today we’re going to talk a little bit about the soybean price outlook. First factor is surging ending stock estimates for the coming year. USDA, last week, pegged ending stocks for the ’17-’18 season at 475-milion bushels. This is from 370-million this year and 197-million bushels last year. So, big jump in that figure. If weather and yield improve during the month of August, we could be looking at another half a bushel per acre yield improvement.”

Chicago Sept Wheat prices closed yesterday dn 11 ½ at 428 ½ Sept corn ended the day dn 7 ½ at 355 ½

Portland prices for soft white wheat of Ordinary Protein for September ended the day dn 11 ½ ranging from 5-09 ½ to 5-25 Hard Red Winter wheat with 11 ½ % protein, prices for September were dn 10 ¼ ranging from 5-11 ½ to 5-31 ½ DNS wheat with 14 % protein, prices for September were dn 11 ¾ ranging from 7-48 ¼ to 7-68 ¼

Live Cattle for Aug were up $1.00 at 109.92 ½ Aug Feeder cattle were up $3.05 at 144.95 Sept Class III milk was dn $.35 cents at 16-84.

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