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Bob Larson Marketline Report for Friday, June 22nd
by Bob Larson, click here for bio

Program: Market Line
Date: June 22, 2018

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This is Bob Larson with the Market Line Report for Friday, June 22nd. Mixed results on the grain market on Thursday. From the floor of the CME in Chicago, here's Virginia McGathey.

MGATHEY ... "Wheat was higher. Commercials really were buying driving that rally today. We did have a big low a couple of days ago and that really pushed the market down to $4.80, well below that $5 mark, but today we stayed above it quite a bit and the market just really kind of just turned its way up. We did have a little bit of a pullback in the opening, but the market stayed higher. We got up to $5.10 on that September contract. So, that dryness in Russia is a factor. There’s more opportunity for us to sell to other big importers like Egypt so perhaps the door could be opened a little bit for us. And, even though the excessive rain is hampering some of the Midwest harvests, that should maybe give us a little bit of a shot in the arm as well.”

Chicago July Wheat prices closed yesterday up 7 at 496 ¼

July Corn was up 2 ¾ at 357 ½

Portland prices for soft white wheat of Ordinary Protein for June ended the day up 5 ranging from 5-90 to 6-00 Hard Red Winter wheat with 11 ½ % protein, prices for June were up 4 ½ ranging from 6-18 ¼ to 6-43 ¼ DNS wheat with 14 % protein, prices for June were unch ranging from 6-87 ¾ to 7-02 ¾

Live Cattle for June were dn $.37 ½ at 108.70 Aug Feeder cattle are dn $.95 to 148.72 ½ June Class III milk was dn .06 cents at 15.26

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