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Bob Larson Marketline Report for Monday, August 13th
by Bob Larson, click here for bio

Program: Market Line
Date: August 13, 2018

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This is Bob Larson with the Market Line Report for Monday, Aug 13th. A bearish USDA report weighs heavy on the grains market Friday. From the floor of the CME in Chicago, here's Virginia McGathey.

McGathey ... "Interestingly enough though, the report was mixed where the U.S. stocks were a little bit lower and the world-ending stocks were a little bit higher which caught us off-guard because we know that the European Union drought is a real issue here. And, the fact that those numbers weren’t reflected with this USDA report, everyone has to tweak and rework exactly where our numbers are. But, you can bet that the next report we’re going to really drive to get those estimates closer to what we really have. But, that just tells us where the weak link is and there’s a lot more volatility to come. We’re going to be back into a weather market. We’re still going to be watching out of the side of our eyes on what’s going to be happening with these tariff talks. If anything starts to change it definitely is going to affect the market.”

Chicago Sept Wheat prices closed yesterday dn 17 ¾ at 546 ½

Sept Corn was dn 11 ½ at 357 ½

Portland prices for soft white wheat of Ordinary Protein for Aug ended the day unch ranging from 6-12 to 6-28 Hard Red Winter wheat with 11 ½ % protein, prices for Aug were dn 18 ¾ ranging from 6-69 ¾ to 6-79 ¾ DNS wheat with 14 % protein, prices for Aug were dn 21 ranging from 6-93 ¾ to 7-08 ¾

Live Cattle for Aug were up $.20 at 108.50 Aug Feeder cattle are up $.55 to 149.95 Aug Class III milk was up .05 cents at 15.04

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