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Bob Larson Marketline Report for Wednesday, June 19th
by Bob Larson, click here for bio

Program: Market Line
Date: June 19, 2019

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This is Bob Larson with the Market Line Report for Wednesday, June 19th. Bulls found no hope in grain market numbers from the latest crop progress report. From the floor of the CME in Chicago, here's Scott Shellady.

SHELLADY ... "Let's talk about corn for a second. Yesterday, we had crop progress and emergence. The Crop Progress Report number came out at 92%, planted. That was what the trade expected. There's been debate on whether that number's real or not, but that's the number we have to use so that's the number we're going to go with. The five year average is 100% so it's all in the ground by now and I talked to some guys down south that would expect corn would be tasseling in the next week or two. So, that'll give you a good idea about how far behind we are. That leaves about 7.2-million acres unplanted. Now, again, that's another hotly contested number, but that's the number that we've been given by the government so we're going to have to go with that, but that's also going to be a problem."

Chicago July Wheat prices closed yesterday dn 8 at 531

July Corn was dn 5 at 448 ¾

Portland prices for soft white wheat of Ordinary Protein for Jun ended the day unch ranging from 5-75 to 6-30 Hard Red Winter wheat with 11 ½ % protein, prices for Jun were dn 15 ¼ ranging from 6-15 ¼ to 6-20 ¼ DNS wheat with 14 % protein, prices for Jun were dn 8 ranging from 6-27 ¼ to 6-37 ¼

Live Cattle for Jun were up $.02 ½ at 109.50 Aug Feeder cattle are up $.32 ½ to 137.72 ½ Jun Class III milk was dn .01 cents at 16.27

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