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Bob Larson Marketline Report for Friday, March 8th
by Bob Larson, click here for bio

Program: Market Line
Date: March 08, 2019

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This is Bob Larson with the Market Line Report for Friday, Mar 8th. Corn prices still down as traders wait for an expected upturn in the market. From the floor of the CME in Chicago, here’s Terry Roggensack.

ROGGENSACK … “Still working its way lower, short-term funds seem to be building a huge net short position in corn. Commitments to traders reports will catch up by this Friday. We have several reasons to believe that the market is about, fundamentally, about ready to turn higher. The starting point for the 1920 season for ending stocks is at 1.65-billion bushels, that’s from 1.73-billion this year, 2.14-billion last year and 2.29-billion two years ago. So, the starting points a little lower for ending stocks.”

Chicago March Wheat prices closed yesterday dn 9 at 436 ¼

March Corn was dn 6 ½ at 355 ¾

Portland prices for soft white wheat of Ordinary Protein for Mar ended the day unch ranging from 5.90 to 6-20 Hard Red Winter wheat with 11 ½ % protein, prices for Mar were dn 11 ranging from 5-77 ½ to 6-17 ½ DNS wheat with 14 % protein, prices for Mar were unch ranging from 6-53 to 6-78

Live Cattle for Apr were up $.05 at 129.07 ½ Mar Feeder cattle are up $2.25 to 142.87 ½ Mar Class III milk was dn .12 cents at 15.07

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