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Bob Larson Marketline Report for Monday, February 12th
by Bob Larson, click here for bio

Program: Market Line
Date: February 12, 2018

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This is Bob Larson with the Market Line Report for Monday, February 12th. Commodities may be reacting to the wild action on the stock market. From the Allendale trading desk, here’s Steve Georgy ...

GEORGY ... “We did see yesterday’s USDA’s supply and demand report showing a significant increase for beans, as far as carry out. So, 530-million, they increased bean carry out by 60-million bushel, most of that due to export sales. We’ve been telling you guys for a long time that that could end up changing. Finally seeing USDA do that, but might be the first of probably a couple adjustments that need to be made unless we get these exports to pick up. One of the other surprises on the USDA report was the decline for corn ending stocks, but yet corn still struggling to gain a lot of legs from here. There’s a lot of corn out there even at 2.3-billion carry out, that’s still a lot of corn. So, we’ll see how that all plays out here today.”

Chicago March Wheat prices closed yesterday dn 7 ¼ at 449 ¼

March corn was dn 3 ¾ at 362

Portland prices for soft white wheat of Ordinary Protein for February ended the day unch ranging from 5-30 to 5-44 Hard Red Winter wheat with 11 ½ % protein, prices for February were dn 9 ranging from 6-10 ½ to 6-30 ½ DNS wheat with 14 % protein, prices for February were dn 9 ½ ranging from 7-18 ½ to 7-33 ½

Live Cattle for February were up $.75 at 126.50 March Feeder cattle are dn $1.05 to 146.75 February Class III milk was unch cents at 13.47

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