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Bob Larson Marketline Report for Tuesday, February 20th
by Bob Larson, click here for bio

Program: Market Line
Date: February 20, 2018

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This is Bob Larson with the Market Line Report for Tuesday, February 20th. The market was closed Monday for President’s Day. With Friday’s results from the CME in Chicago, here’s Virginia McGathey ...

McGATHEY ... “Wheat was a little bit lower today. It seems like global supplies are affecting this market and they’re really weighing on the prices right now. It certainly looks like that most of the supplies originate really from other areas than the U.S. and that’s really where it’s building up. So, even though we have some dry areas in the southern plains of the U.S. that we expect that it could definitely affect our winter wheat crop. These other global supplies, that issue kind of comes into play here and holding the market a little bit lower. Overall, it’s still pretty high. I know that there’s plenty of funds that are short that wheat market, but I’ll tell you, if wheat gets anything that comes up on the difficulty with the actual numbers for that winter wheat crop, but we have to watch that closely.”

Chicago March Wheat prices closed yesterday dn 4 at 458

March corn was dn ¼ at 367 ¼

Portland prices for soft white wheat of Ordinary Protein for February ended the day unch ranging from 5-30 to 5-52 Hard Red Winter wheat with 11 ½ % protein, prices for February were up ½ ranging from 6-23 ½ to 6-48 ½ DNS wheat with 14 % protein, prices for February were dn 3 ¼ ranging from 7-20 ¼ to 7-35 ¼

Live Cattle for February were up $.82 ½ at 130.32 ½ March Feeder cattle are dn $.10 to 149.85 February Class III milk was up $.02 cents at 13.48

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