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Bob Larson Market Line Report Wed May 3rd
by Bob Larson, click here for bio

Program: Market Line
Date: May 03, 2017

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This is Bob Larson with the Market Line Report for Wednesday May 3rd. Cattle trading is strong, while grains are mixed on Tuesday. With more from the floor of the CME in Chicago, here’s Joe Vaclavik …

Vaclavik … “The wheat market was mixed on Tuesday after a sharply higher trade on Monday. This has really turned into a weather market over the past few days. A great deal of western Kansas into portions of Oklahoma, Texas and Colorado had some excessive snow fall, freezing temperatures and really just some nasty winter weather over the weekend. And what you’ve got to remember here is a lot of this wheat crop is ahead of schedule. The wheat crop from Kansas, as a whole, was ahead of schedule, I believe, by about two weeks. So, there has definitely been some damage done and it’s going to take the market a little while to assess that damage.”

Chicago May Wheat prices closed yesterday dn 1 ¼ at 442 May corn ended the day dn 5 ¼ at 364

Portland prices for soft white wheat of Ordinary Protein for May ended the day dn 8 ranging from 4-62 to 4-74 Hard Red Winter wheat with 11 ½ % protein, prices for May were up 10 ranging from 5-37 ¾ to 5-44 ¾ DNS wheat with 14 % protein, prices for May were dn 6 ¼ ranging from 6-43 ½ to 6-77 ½.

Live Cattle were up $2.92 ½, at 127.07 ½ May Feeder cattle were up $1.02 ½ at 149.77 ½. Class III milk was up 05 cents at 15-37.

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