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Bob Larson Market Line Report Monday April 24th
by Bob Larson, click here for bio

Program: Market Line
Date: April 24, 2017

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This is Bob Larson with the Market Line Report for Monday April 24th. Grain markets mixed in Friday trading, with wheat having a tough go of it. With more from the floor of the CME in Chicago, here’s Virginia McGathey…

McGathey “The wheat market is down and it has been leading the way down to a new contract low for 2017. Even the Kansas City wheat has definitely a new low as well. Certainly, the good weather means there’s going to be a bigger harvest adding to the surplus we already have. That’s definitely putting pressure on the market. Even though, the market isn’t down huge in the wheat complex, it still is showing signs of sinking a little bit more. We definitely broke through a technical support number and some follow-through selling came in. If a new wave comes in that could possibly push it lower for next week, but we’re watching closely. It’s still holding, but kind of like unchanged right now, but we’re certainly at our lows.”

Chicago May Wheat prices closed Friday dn 1 ¼ at 405 May corn ended the day dn ¾ at 356 ½

Portland prices for soft white wheat of Ordinary Protein for May ended the day dn 1 ¼ ranging from 4-25 to 4-70 Hard Red Winter wheat with 11 ½ % protein, prices for May were up 1 ¾ ranging from 4-79 ½ to 4-94 ½ DNS wheat with 14 % protein, prices for May were dn ½ ranging from 6-26 ½ to 6-61 ½ .

Live Cattle were up $0.17 ½ , at 129.85 May Feeder cattle were dn $.50 at 139.25 . Class III milk was up 02 cents at 15-20.

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