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Bob Larson Marketline Report for Friday, June 21st
by Bob Larson, click here for bio

Program: Market Line
Date: June 21, 2019

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This is Bob Larson with the Market Line Report for Friday, June 21st. The grain traders continue dealing with a weather market on Thursday. From the floor of the CME in Chicago, here's Scott Shellady.

SHELLADY ... "The hits still keep on coming, and as the window for planting corn is closing, it's opening for beans, it's still going to look as though as if it's going to continue to play on. And, I've said this before, but we kind of get out in front of ourselves pretty quickly when things are hot and dry. That's typically how corn trades when it's hot and dry. Everybody wants to rush and buy it and we shoot up pretty quickly, but you know these wet and cold weather issues, they take longer to come to fruition because we just don't know, right. It's not like we can see the corn dying in the ground like we can when it's hot and dry. So, that's something, I just want everybody to make sure that they brace themselves for because this is going to play out for a long time or at least for the entire growing season. And, we probably won't even know definitively until we finally get it in the bin. So, it's going to be a volatile summer."

Chicago July Wheat prices closed yesterday up 4 ¼ at 526 ¾

July Corn was up 9 at 450 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 up 3 ranging from 6-10 ½ to 6-15 ½ DNS wheat with 14 % protein, prices for Jun were dn 3 ¼ ranging from 6-13 ¼ to 6-23 ¼

Live Cattle for Jun were dn $.32 ½ at 108.25 Aug Feeder cattle are dn $1.82 ½ to 134.65 Jun Class III milk was up .01 cents at 16.29

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