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Bob Larson Marketline Report for Monday, January 22nd
by Bob Larson, click here for bio

Program: Market Line
Date: January 22, 2018

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This is Bob Larson with the Market Line Report for Monday, January 22nd. The grain market was a little off the mark on Friday. From the floor of the CME in Chicago, here’s Virginia McGathey …

Virginia McGathey ... “Wheat was a little bit weaker. The weather concerns are really no longer an issue anymore. And it’s just too early to predict any kind of crop damage even though there is more dryness in the plains and I know that cold-snap everyone was kind of worried about it. And, it certainly looks like the traders are taking the ‘been there, done that’ kind of attitude and so there not really certain of whether there is going to be any problems and even if there is, we’re not going to know for a couple of months so no one is really jumping on board and pushing this market higher. That being said, the market still is relatively strong overall for this time of year. So, it’s still behaving pretty well, but it was off a little bit today and it’s the end of the week and some profit taking really put a little bit of pressure on the market.”

Chicago March Wheat prices closed yesterday dn 2 ½ at 423 ¼

March corn was up 1 at 352 ½

Portland prices for soft white wheat of Ordinary Protein for January ended the day dn 1 ¼ ranging from 5-18 ¾ to 5-32 Hard Red Winter wheat with 11 ½ % protein, prices for January were dn 2 ranging from 5-77 ½ to 5-92 ½ DNS wheat with 14 % protein, prices for January were dn 2 ranging from 7-23 ½ to 7-43 ½

Live Cattle for February were dn $.05 at 121.92 ½ January Feeder cattle are dn $1.22 ½ to 147.50 January Class III milk was up .06 cents at 13.89

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