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Bob Larson Marketline Report for Monday, May 21st
by Bob Larson, click here for bio

Program: Market Line
Date: May 21, 2018

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This is Bob Larson with the Market Line Report for Monday, May 21st. All grains are higher in Friday trading. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "Wheat was soaring today and perhaps corn participated in that with a little bit of that overflow buying from the wheat, up double digits almost .20 cents at one point. The trade deal issue has really brought in the buyers and they jumped in with both feet. And, all the spill over from the corn and soybeans as well really pushed the market up. Now, we know the wheat market is really a thinner market and when we start to get a head of steam it really moves and sometimes overshoots its objective. But, the market had been on a slide for two weeks and finally found a rebound, bargain hunters stepping in and really pushing that market up a lot higher and it really came back to finish off very strong to end the week so there’s some positive news there. We’re still waiting for all the numbers to come in.”

Chicago July Wheat prices closed yesterday up 20 ¾ at 518 ¼

July Corn was up 7 ¼ at 401 ¾

Portland prices for soft white wheat of Ordinary Protein for July ended the day unch ranging from 5-75 to 6-00 Hard Red Winter wheat with 11 ½ % protein, prices for May were up 19 ¾ ranging from 6-63 ¾ to 6-83 ¾ DNS wheat with 14 % protein, prices for May were up 9 ¼ ranging from 7-74 to 7-94

Live Cattle for June were dn $.65 at 102.55 May Feeder cattle are dn $.87 ½ to 132.32 ½ May Class III milk was unch cents at 15.23

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