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Bob Larson Marketline Report for Monday, August 20th
by Bob Larson, click here for bio

Program: Market Line
Date: August 20, 2018

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This is Bob Larson with the Market Line Report for Monday, Aug 18th. Cattle surged higher Friday as China talks create optimism. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "Today, a lot of action. The cattle just keeps on rising and it surged really at the end of the day. The surge from last week’s beef export sales just continues to move higher. But, it certainly looks like there’s a little more action in cattle trade here at the end of the week and really boosting these prices. Feeders were also higher. It seems that these new Chinese-U.S. talks really offer a little bit of optimism going forward. Now, feeders were not really as high as the live cattle today, but there’s real hope that this resolution can be made sooner than later and hopefully before the end of August. That would give the market a huge boost from here on out.”

Chicago Sept Wheat prices closed yesterday up 18 ¼ at 560

Sept Corn was dn 1 at 364 ½

Portland prices for soft white wheat of Ordinary Protein for Sept ended the day unch ranging from 6-15 to 6-28 Hard Red Winter wheat with 11 ½ % protein, prices for Sept were up 17 ½ ranging from 6-65 to 6-75 DNS wheat with 14 % protein, prices for Sept were up 12 ¼ ranging from 6-93 ½ to 7-08 ½

Live Cattle for Aug were up $1.10 at 109.57 ½ Aug Feeder cattle are up $.67 ½ to 150.77 ½ Aug Class III milk was up .02 cents at 15.01

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