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Bob Larson Marketline Report for Tuesday, April 17th
by Bob Larson, click here for bio

Program: Market Line
Date: April 17, 2018

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This is Bob Larson with the Market Line Report for Tuesday, April 17th. The grain market takes a dive on Monday. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "Wheat was the one that really tumbled today and I think that’s what brought all the markets down. It seemed that the improved weather across the U.S. plains has everyone believing that we’ve mitigated all the problems for the winter wheat and it’s going to revive all the crops, which seems kind of interesting because we have had, in the Kansas area and some areas, that winter wheat is not looking good. Some have not even come out of the ground so I think that we are going to see some crop damage, but just right now it’s not in the market now and so it sent the market lower, double-digits. We were down almost 10 cents today which was really kind of a surprise and has a few traders scratching their heads."

Chicago May Wheat prices closed yesterday dn 10 ¼ at 463

May Corn was dn 3 ¾ at 382 ¼

Portland prices for soft white wheat of Ordinary Protein for May ended the day dn 2 ¼ ranging from 5-78 ¼ to 5-90. Hard Red Winter wheat with 11 ½ % protein, prices for April were dn 17 ¾ ranging from 6-23 to 6-38 DNS wheat with 14 % protein, prices for April were dn 10 ¼ ranging from 7-41 ¾ to 7-66 ¾

Live Cattle for April were up $.60 at 117.25 April Feeder cattle are dn $.15 to 139.22 ½ April Class III milk was up $.03 cents at 14.44

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