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Bob Larson Marketline Report for Wednesday, July 18th
by Bob Larson, click here for bio

Program: Market Line
Date: July 18, 2018

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This is Bob Larson with the Market Line Report for Wednesday, July 18th. A change in yield predictions impacts the corn market. From the floor of the CME in Chicago, here's Terry Roggensack.

ROGGENSACK ... "Today, we wanted to talk about the corn market and the heat we saw in June and July. What would happen if it’s not a record corn yield? First factor would be that the drop in the Weekly Conditions Report opens the door for discussion on whether or not we have a normal-type yield this year or a record-type yield. So far, the market has priced in a record-type yield. We did note a big drop in crop conditions this week, especially in Missouri and some of the other key trouble spots. We also saw Southern Minnesota with too much rain as a factor.”

Chicago Sept Wheat prices closed yesterday up 9 ¼ at 498 ½

Sept Corn was up 4 ½ at 346 ½

Portland prices for soft white wheat of Ordinary Protein for July ended the day unch ranging from 5-80 to 5-90 Hard Red Winter wheat with 11 ½ % protein, prices for July were up 6 ¼ ranging from 6-10 ¾ to 6-20 ¾ DNS wheat with 14 % protein, prices for July were up 5 ranging from 6-28 ¼ to 6-33 ¼

Live Cattle for Aug were dn $.50 at 106.90 Aug Feeder cattle are dn $1.10 to 151.77 ½ July Class III milk was dn .02 cents at 14.24

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