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Bob Larson Marketline Report for Monday, April 23rd
by Bob Larson, click here for bio

Program: Market Line
Date: April 23, 2018

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This is Bob Larson with the Market Line Report for Monday, April 23rd. The grain market takes a dive on Friday. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "Improved weather in the U.S. Plains has definitely put some pressure on the wheat market. Traders are really looking ahead to more rainfall over the next couple of weeks so they’re expecting that they’re going to work out really well. But, perhaps it’s not going to be enough to save the winter wheat crop. We haven’t really been getting that out of the ground yet so we don’t know what those numbers are. I think that that could actually be a little bit of a bullish move, but it seems right now that the markets a little bit exhausted. Lackluster trade across the board for this week so everything is a little bit lower. Let’s see how it goes next week. I think we’re going to be in a week to week market, but we’re still in a full-blown weather market and anything can happen that will give us a little more direction."

Chicago May Wheat prices closed yesterday dn 13 ½ at 463 ½

May Corn was dn 5 ½ at 376 ¾

Portland prices for soft white wheat of Ordinary Protein for May ended the day dn 13 ½ ranging from 5-68 ¼ to 5-90 Hard Red Winter wheat with 11 ½ % protein, prices for April were dn 13 ¼ ranging from 6-27 ½ to 6-42 ½ DNS wheat with 14 % protein, prices for April were dn 13 ¼ ranging from 7-35 to 7-60

Live Cattle for April were up $1.55 at 119.00 April Feeder cattle are up $.07 ½ to 138.62 ½ April Class III milk was unch cents at 14.51

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