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Bob Larson Marketline Report for Monday, April 9th
by Bob Larson, click here for bio

Program: Market Line
Date: April 09, 2018

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This is Bob Larson with the Market Line Report for Monday, April 9th. Tariffs and China are the most spoken words on the trading floor Friday. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "Now, wheat was mixed a little bit. Two-sided trade has built some momentum. If you look at the charts, the market is really starting to move higher. It’s very difficult with this tariff talk to really get wheat off the ground and get it moving. And, I think it’s put a lid on a firm rally, but the momentum is building. It’s still dry in the southern plains and as we’re moving closer and closer into the harvesting of that winter wheat, we’re going to see what kind of crop damage there is and wheat could definitely be one of those markets that could fly from here. So, we’re watching that Friday’s lows of last week is definitely in and we’re starting to build some momentum."

Chicago May Wheat prices closed yesterday up 7 ½ at 472

May Corn was dn 1 at 388 ¾

Portland prices for soft white wheat of Ordinary Protein for May ended the day unch ranging from 5-65 to 5-92 ¼ Hard Red Winter wheat with 11 ½ % protein, prices for April were up 8 ¼ ranging from 6-41 ¾ to 6-66 ¾ DNS wheat with 14 % protein, prices for April were up 17 ½ ranging from 7-22 ¼ to 7-52 ¼

Live Cattle for April were dn $2.07 ½ at 112.00 April Feeder cattle are dn $2.15 to 134.82 ½ April Class III milk was up $.02 cents at 14.40

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