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Bob Larson Marketline Report for Wednesday, April 25th
by Bob Larson, click here for bio

Program: Market Line
Date: April 25, 2018

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This is Bob Larson with the Market Line Report for Wednesday, April 25th. Weather is still the word on the grain market Tuesday. From the floor of the CME in Chicago, here's Todd Horwitz.

HORWITZ ... "If we look at wheat today and, of course, we ask the question whether or not, and of course you can take that either way, but it has been about the weather. There’s been some areas that haven’t had rain for over 200 days, ,but of course then we’ve got the side of the equation that says we’ve got too much supply anyway. You’ve got the trade wars, you’ve got the tariffs, you’ve got everything going on. In the meantime, you’ve got wheat that is sitting in a great level and should look to be bought. I think when you look at the overall picture wheat itself, as we look it it’s kind of like the step-sister or whatever when you look into the overall big picture, but at the end of the day we think that buying on support is the way we should be looking for it."

Chicago May Wheat prices closed yesterday up 11 at 472 ½

May Corn was up 4 ¾ at 380 ¾

Portland prices for soft white wheat of Ordinary Protein for May ended the day up ½ ranging from 5-72 to 5-90 Hard Red Winter wheat with 11 ½ % protein, prices for April were dn 5 ¾ ranging from 6-22 ½ to 6-52 ½ DNS wheat with 14 % protein, prices for April were up 4 ¾ ranging from 7-27 ¾ to 7-67 ¾

Live Cattle for April were dn $.62 ½ at 121.00 April Feeder cattle are up $.07 ½ to 139.10 April Class III milk was unch cents at 14.52

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