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Bob Larson Marketline Report Wednesday May 17th
by Bob Larson, click here for bio

Program: Market Line
Date: May 17, 2017

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This is Bob Larson with the Market Line Report for Wednesday May 17th. No Bull in the markets as the Bears continue to rule. With more from the floor of the CME in Chicago, here’s Joe Vaclavik …

Vaclavik … “Corn market was mostly lower in a pretty quiet session here on Tuesday. The trade initially reacting to a planting progress report from USDA which told us that planting progress in this country is actually ahead of the five-year average. 71% of the U.S. corn crop was planted as of Sunday compared to just 70% on average. U.S. farmers were able to plant 24% of the crop in just one week. So, a very, very quick planting pace when farmers got the window of opportunity. You know, modern equipment and modern technology allows for this crop to be planted very, very quickly so I think that that was seen as being kind of a bearish item here.”

Chicago July Wheat prices closed yesterday up 1 at 423 ½ - July corn ended the day unchanged at 367

Portland prices for soft white wheat of Ordinary Protein for July ended the day up 1 ranging from 4-79 ¼ to 4-85 Hard Red Winter wheat with 11 ½ % protein, prices for July were dn 4 ranging from 4-99 ½ to 5-09 ½ DNS wheat with 14 % protein, prices for July were dn ¼ ranging from 6-39 ¾ to 6-64 ¾

Live Cattle were dn $.55 at 122.15 May Feeder cattle were dn $1.57 ½ at 141.20 May Class III milk was up 03 cents at 15-63.

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