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Bob Larson Marketline Report for Wednesday, October 3rd
by Bob Larson, click here for bio

Program: Market Line
Date: October 03, 2018

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This is Bob Larson with the Market Line Report for Wednesday, Oct 3rd. Grain futures, wheat in particular, get a boost from trade deals in Tuesday trading. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY … “Wheats been steady. It’s actually trading on both sides of the market. We get a little bit of a run-up then it kind of comes back so it is a little bit of a mixed bag. So, some of the traders are kind of looking a little bit nervous about it, but the market’s still holding itself very strong and holding firm. Some of the outside factors are a little bit in play and, of course, geopolitical ideas that are coming in, things out of the White House, what’s happening around the world, certainly for wheat, is an issue that will always come into play, but right now the markets still look firm across the board and I think that this is still an overlay and still follow-through from the Mexico-Canada-US trade pact that finally came to fruition this past weekend.”

Chicago Dec Wheat prices closed yesterday up 9 ¾ at 520 ¼

Dec Corn was up 1 ¾ at 367 ½

Portland prices for soft white wheat of Ordinary Protein for Oct ended the day unch ranging from 6-00 to 6-17 Hard Red Winter wheat with 11 ½ % protein, prices for Oct were up 11 ranging from 6-32 ½ to 6-52 ½ DNS wheat with 14 % protein, prices for Oct were up 14 ¼ ranging from 6-76 ½ to 6-86 ½

Live Cattle for Oct were up $.30 at 113.82 ½ Oct Feeder cattle are up $.42 ½ to 158.82 ½ Oct Class III milk was up .05 cents at 15.95

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