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Bob Larson Marketline Report for Tuesday, June 26th
by Bob Larson, click here for bio

Program: Market Line
Date: June 26, 2018

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This is Bob Larson with the Market Line Report for Tuesday, June 26th. The grain market will be looking for a Tuesday turnaround after a down Monday. From the floor of the CME in Chicago, here's Virginia McGathey.

MGATHEY ... "Wheat really gapped lower today. That bearish sentiment is just triggering a lot of selling. Traders are all but giving up on wheat for a while. There’s worries about the quality from the Winter wheat is just countered by the Spring wheat crop improvement so we’ve got that, but that brought in a new wave of selling and there is a lot more volatility in the wheat even though it opened and it really dropped all the way down to $487 for the September contract, rallied all the way back to, maybe half way back, to be only down only maybe .08 or .09 cents, but started to slip again along with the soybeans and the corn so we’re going to be watching that closely.”

Chicago July Wheat prices closed yesterday dn 14 ¼ at 477

July Corn was dn 6 ¾ at 349 ½

Portland prices for soft white wheat of Ordinary Protein for June ended the day unch ranging from 5-90 to 6-00 Hard Red Winter wheat with 11 ½ % protein, prices for June were dn 19 ranging from 5-94 ¾ to 6-19 ¾ DNS wheat with 14 % protein, prices for June were dn 9 ½ ranging from 6-74 ½ to 6-89 ½

Live Cattle for June were dn $2.30 at 106.35 Aug Feeder cattle are dn $3.42 ½ to 145.92 ½ June Class III milk was dn .04 cents at 15.21

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