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Bob Larson Marketline Report Thursday, July 13th
by Bob Larson, click here for bio

Program: Market Line
Date: July 13, 2017

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This is Bob Larson with the Market Line Report for Thursday July 13th. The roller coaster market continues in trading on Wednesday. From the floor of the CME in Chicago, here’s Virginia McGathey …

McGathey ... “Today, cattle, limit up! Futures opened mixed, but they started to rally as grains tank after that USDA report. The auction was today and it was good. It was $2 higher and that really started the momentum going up. Once the USDA report came out for the grains it was, all bets were off. The market rallied all the way to the top. So, it looked like that bearish USDA report was kind of like what sealed the deal and finally the markets really rallied. Rallied and bid limit up. Now, know that we have been waiting for some direction in the market and we did get a little bit higher. There has been some short covering as well that really pushed the market up.”

Chicago July Wheat prices closed yesterday dn 13 at 521 ½ July corn ended the day dn 16 at 376 ¼

Portland prices for soft white wheat of Ordinary Protein for August ended the day dn 3 ranging from 5-47 to 5-58 Hard Red Winter wheat with 11 ½ % protein, prices for August were dn 13 ½ ranging from 6-14 to 6-39 DNS wheat with 14 % protein, prices for August were dn 14 ranging from 8-82 ¾ to 8-97 ¾

Live Cattle for August were up $3.00 at 117.87 ½ Aug Feeder cattle were up $4.50 at 151.75 July Class III milk was dn $.03 cents at 15-62.

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