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Bob Larson Marketline Report for Wednesday, June 6th
by Bob Larson, click here for bio

Program: Market Line
Date: June 06, 2018

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This is Bob Larson with the Market Line Report for Wednesday, June 6th. The grain market is up again with seemingly little concern of a trade war. From the floor of the CME in Chicago, here's Todd Horwitz.

HORWITZ ... "As we take a look at wheat here, the first thing we would talk about is trade wars and, now again, I’ve been under the impression, and it’s been my opinion, that the trade wars are no big deal and that at worst they’ll benefit us. I think that we’re going to resolve this out so I don’t think there’s a to worry about the trade wars, but I think more importantly, the grains are telling us, wheat is telling us that there’s nothing to worry about in the trade wars because they’re higher than they were when the original announcement hit, and from that panic bottom they make. As we look at the overall picture here, you’ve got weak trading and moving around in levels that suggest that it wants to go much higher.”

Chicago July Wheat prices closed yesterday up 4 ¾ at 509 ½

July Corn was up 3 at 383 ½

Portland prices for soft white wheat of Ordinary Protein for June ended the day up 10 ranging from 5-90 to 6-00 Hard Red Winter wheat with 11 ½ % protein, prices for June were up 7 ½ ranging from 6-54 to 6-79 DNS wheat with 14 % protein, prices for June were up 3 ¾ ranging from 7-32 to 7-47

Live Cattle for June were up $2.47 ½ at 107.40 Aug Feeder cattle are up $1.27 ½ to 146.35 June Class III milk was dn $.12 cents at 15.26

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