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Bob Larson Marketline Report for Thursday, August 9th
by Bob Larson, click here for bio

Program: Market Line
Date: August 09, 2018

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This is Bob Larson with the Market Line Report for Thursday, Aug 9th. Weather still playing a big role in the grain market Tuesday. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "The global drought is a real issue and it’s been dry in Europe and Southern Russia and Australia and certainly in the U.S. I mean, we know that in the Pacific Northwest it’s so hot they’re expecting a lot more forest fires. That definitely is going to hurt the crops somewhat. I know that 80%, a couple of weeks ago, was good to excellent on that crop, but as we get to triple-digit temperatures we’re seeing it really start to have somewhat of a challenge. These hot temperatures around the U.S. is definitely going to affect our markets and that the expectation is that they’re going to reduce that world wheat supplies for that contract and so that will also, we expect that that’s going to give the market a little bit of a shot in the arm.”

Chicago Sept Wheat prices closed yesterday up 1 ¾ at 570 ¾

Sept Corn was up ½ at 371

Portland prices for soft white wheat of Ordinary Protein for Aug ended the day unch ranging from 6-06 to 6-20 Hard Red Winter wheat with 11 ½ % protein, prices for Aug were up 4 ¾ ranging from 6-89 ¼ to 7-09 ¼ DNS wheat with 14 % protein, prices for Aug were up 5 ranging from 7-22 ¾ to 7-32 ¾

Live Cattle for Aug were dn $.25 at 109.80 Aug Feeder cattle are up $.80 to 150.85 Aug Class III milk was up .08 cents at 14.91

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