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Bob Larson Marketline Report for Tuesday, March 13th
by Bob Larson, click here for bio

Program: Market Line
Date: March 13, 2018

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This is Bob Larson with the Market Line Report for Tuesday, March 13th. The grain market showing signs of life Monday. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "It seems that the USDA report that the global supplies were increased is weighing on those futures. That’s not to say that the fundamentalists are still dry in the southern plains and that is going to remain and should give the market a little bit of a boost because technically we have been overbought. I mean, the relative strength index was up almost 80 percent for the 14-day RSI. That’s really huge, technically speaking, for those kind of traders, and it gives them pause to hang on to some of their longs, but that just tells us that volatility is here to stay. If we can a little bit rolling on these markets, I think this full-weather market is going to get us some prices we haven’t seen in quite awhile."

Chicago March Wheat prices closed yesterday up ¾ at 484 ½

March corn was up 1 ¼ at 384 ¼

Portland prices for soft white wheat of Ordinary Protein for March ended the day unch ranging from 5-40 to 5-65 ¾ Hard Red Winter wheat with 11 ½ % protein, prices for March were up 1 ¾ ranging from 6-57 ¼ to 6-77 ¼ DNS wheat with 14 % protein, prices for March were up 7 ranging from 7-39 ½ to 7-54 ½

Live Cattle for April were dn $1.57 ½ at 121.65 March Feeder cattle are dn $.35 to 142.07 ½ March Class III milk was dn $.01 cents at 14.18

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