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Bob Larson Marketline Report for Thursday, January 17th
by Bob Larson, click here for bio

Program: Market Line
Date: January 17, 2019

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This is Bob Larson with the Market Line Report for Thursday, Jan 17th. Wheat is on the rebound around the country in Wednesday trading. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “Now, wheat rebounded today along with Kansas City and Minneapolis wheat. It seems that the market really dropped down to an area where we’re pretty cheap really, but we’ve become very competitive around the world. That being said, without any export data, we don’t really know anything for sure so it’s kind of difficult to see if we’re making headway because we’ve gotten to a competitive price. Inside that, the Northern Hemisphere has had really good winter weather. That’s certainly favorable for the winter wheat. So, that wouldn’t necessarily be bearish on the market so these export numbers would really be helpful so that we could get some understanding on where we’re going to be. But, our pace going forward, even if we do get the numbers, would probably be sluggish to say the least.”

Chicago March Wheat prices closed yesterday up 1 ½ at 512

March Corn was up 2 ¾ at 374

Portland prices for soft white wheat of Ordinary Protein for Jan ended the day unch ranging from 6-10 to 6-35 Hard Red Winter wheat with 11 ½ % protein, prices for Jan were unch ranging from 6-50 ½ to 6-55 ½ DNS wheat with 14 % protein, prices for Jan were up 3 ranging from 6-55 to 6-70

Live Cattle for Feb were up $.87 ½ at 127.72 ½ Jan Feeder cattle are dn $.97 ½ to 143.95 Jan Class III milk was up .01 cents at 14.00

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