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Bob Larson Marketline Report for Thursday, April 26th
by Bob Larson, click here for bio

Program: Market Line
Date: April 26, 2018

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This is Bob Larson with the Market Line Report for Thursday, April 26th. The wheat market takes off on Wednesday. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "Wheat just was soaring today. A double-digit rally. The market looked very, very strong. There was certainly some short-covering from worries that the weather issues are going to be ahead and finally the buyers stepped in. Everyone got off of the stepping on the neck of the wheat after all this time. But, it seems that the funds are starting to reverse their position and I think that there is a report that the crop conditions are the worst that they’ve been in probably like two decades. So, finally we’re going to get the numbers of the winter wheat crop. Once we get the actual numbers, if they’re worse than we think, we can expect that the market can really rally."

Chicago May Wheat prices closed yesterday up 13 ¾ at 485 ¾

May Corn was up 5 ¼ at 385 ½

Portland prices for soft white wheat of Ordinary Protein for May ended the day unch ranging from 5-72 to 5-90 Hard Red Winter wheat with 11 ½ % protein, prices for April were up 14 ½ ranging from 6-37 to 6-67 DNS wheat with 14 % protein, prices for April were up 6 ¾ ranging from 7-34 ½ to 7-74 ½

Live Cattle for April were up $.82 ½ at 121.95 April Feeder cattle are up $.75 to 139.87 ½ April Class III milk was dn .01 cents at 14.51

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