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Bob Larson Marketline Report for Monday, March 25th
by Bob Larson, click here for bio

Program: Market Line
Date: March 25, 2019

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This is Bob Larson with the Market Line Report for Monday, Mar 25th. Midwest flooding pushes wheat prices higher in Friday trading. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGATHEY … “Wheat was also higher. Flooding seems to be hampering some of the shipping there. We know that they also reached their objective for the forecast, for the USDA forecast, so we’re just having trouble moving it around because of the flooding and the funds are still short so the scramble hasn’t been on yet to do any short-covering to move this up higher, but right now we’re kind of stuck in this channel, but we’re going to see that this bomb-cyclone that did go off here in the central plains of the U.S. could be affecting our markets until, let’s say, May and if we’re having trouble getting any grain in the ground until May, you can see that there’s going to be quite a bit of volatility ahead.”

Chicago May Wheat prices closed yesterday dn ½ at 465

May Corn was up 2 at 378 ¾

Portland prices for soft white wheat of Ordinary Protein for Mar ended the day unch ranging from 5.90 to 6-30 Hard Red Winter wheat with 11 ½ % protein, prices for Mar were dn 2 ranging from 6-20 to 6-35 DNS wheat with 14 % protein, prices for Mar were up 1 ranging from 6-82 ¼ to 6-97 ¼

Live Cattle for Apr were dn $.17 ½ at 129.82 ½ Mar Feeder cattle are up $.22 ½ to 143.10 Mar Class III milk was unch cents at 15.03

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