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Bob Larson Marketline Report for Thursday, March 7th
by Bob Larson, click here for bio

Program: Market Line
Date: March 07, 2019

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This is Bob Larson with the Market Line Report for Thursday, Mar 7th. Across the board, grains have a rough day in Wednesday trading. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "Wheat also fell, double digits. You know, the funds are adding to their short position and right now an all-total of 114,783 total short contracts, when you include Minneapolis, Kansas City, and Chicago. That really is adding some pressure to this market as well as Russia and the Black Sea region. That wheat is also on the decline and so that pushes our wheat down because we're not able to be competitive in that area and with the supplies that we have there's really nothing to do and the market just keeps sinking. Will we find a bottom? I hope so soon."

Chicago March Wheat prices closed yesterday dn 13 ¾ at 445

March Corn was dn 3 ½ at 362

Portland prices for soft white wheat of Ordinary Protein for Mar ended the day dn 15 ranging from 5.90 to 6-20 Hard Red Winter wheat with 11 ½ % protein, prices for Mar were dn 12 ¾ ranging from 5-88 ½ to 6-28 ½ DNS wheat with 14 % protein, prices for Mar were dn 2 ½ ranging from 6-53 to 6-78

Live Cattle for Apr were up $.07 ½ at 128.82 ½ Mar Feeder cattle are dn $.22 ½ to 140.75 Mar Class III milk was up .03 cents at 15.15

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