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Bob Larson Marketline Report for Wednesday, April 4th
by Bob Larson, click here for bio

Program: Market Line
Date: April 04, 2018

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This is Bob Larson with the Market Line Report for Wednesday, April 4th. Both good and bad news on the grain market Tuesday. From the floor of the CME in Chicago, here's Joe Vaclavik.

VACLAVIK ... "The wheat market was sharply higher across the board here on Tuesday following a bullish crop progress report from the USDA on Monday afternoon. The USDA told us that the percentage of winter wheat rated good to excellent was the lowest since 2002 for this week and time and is really in bad shape as a result of an ongoing drought in the southern plains. Now, on the bearish side is exports. We are just having a very tough time competing on the export market. And, any time the wheat market rallies here in the U.S. it prices us out of the world market and really just eliminates demand. We’ll see what wins out here this week, but for the moment the market is strong here on Tuesday following that crop progress report from USDA."

Chicago May Wheat prices closed yesterday up 11 ¼ at 456 ¼

May Corn was up 1 ¼ at 388

Portland prices for soft white wheat of Ordinary Protein for May ended the day unch ranging from 5-65 to 5-85 Hard Red Winter wheat with 11 ½ % protein, prices for April were up 17 ¼ ranging from 6-19 ¾ to 6-44 ¾ DNS wheat with 14 % protein, prices for April were up 9 ½ ranging from 6-98 to 7-28

Live Cattle for April were dn $.42 ½ at 112.10 April Feeder cattle are dn $1.35 to 130.65 April Class III milk was up $.15 cents at 14.44

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