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Bob Larson Marketline Report for Thursday, September 13th
by Bob Larson, click here for bio

Program: Market Line
Date: September 13, 2018

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This is Bob Larson with the Market Line Report for Thursday, Sept 13th. A bearish USDA report hits the corn market hard on Wednesday. From the floor of the CME in Chicago, here's Scott Shellady.

SHELLADY … “We saw production jump from 4.526 to 14.827. That’s a pretty big increase especially this in the game. You know, as you go longer in the year, the propensity for a bigger surprise gets less and less and less because you’d think we get to know more about the crop going forward. But, today was kind of a shocker so corn ended up finishing down about .14 cents on the day which is a decent move lower especially as we’ve gone lower, right? The propensity to go lower or have short, sharp moves lower is less the lower you go. So, I would say today was a really, an exaggerated day to the down-side considering where the corn prices are trading already.”

Chicago Sept Wheat prices closed yesterday dn 12 at 478 ½

Sept Corn was dn 13 ¾ at 341 ¾

Portland prices for soft white wheat of Ordinary Protein for Sept ended the day unch ranging from 5-90 to 5-95 Hard Red Winter wheat with 11 ½ % protein, prices for Sept were dn 16 ranging from 6-06 ¾ to 6-16 ¾ DNS wheat with 14 % protein, prices for Sept were dn 10 ¼ ranging from 6-50 to 6-55

Live Cattle for Oct were up $2.17 ½ at 111.60 Sept Feeder cattle are up $2.50 to 154.67 ½ Sept Class III milk was up .05 cents at 16.16

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