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Bob Larson Marketline Report for Friday, June 28th
by Bob Larson, click here for bio

Program: Market Line
Date: June 28, 2019

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This is Bob Larson with the Market Line Report for Friday, June 28th. The corn market is quiet while traders wait on USDA’s quarterly report on Friday. From the floor of the CME in Chicago, here’s Scott Shellady.

SHELLADY … “Now, I would normally say that they stair-step things down. They’re a little bit more reserved in how they kind of update these numbers, but seeing what they did to the yield per acre in the last report, you’ve got to start to put a little dot in your mind, this could be a little bit more of a volatile report than we normally have had. So, another thing that’s concerning me a little bit, we’re going to have to get a decent number bullish-wise because we did see emergence numbers and the conditions numbers on Monday, they were pretty bullish for both corn and beans, but we haven’t seen the market take off like I would like to see it take off. And, because of that it tells me, having done this for a while, that we’re not attracting any new buyers to the market and the way we’re going to attract new buyers is we’re going to have to get a pretty decently bullish numbers from the USDA tomorrow to have that happen.”

Chicago July Wheat prices closed yesterday up 3 ¾ at 547 ¼

July Corn was dn 3 ¼ at 440

Portland prices for soft white wheat of Ordinary Protein for June ended the day unch ranging from 5-75 to 6-30 Hard Red Winter wheat with 11 ½ % protein, prices for June were dn 1 ranging from 6-18 to 6-23 DNS wheat with 14 % protein, prices for June were up 1 ¼ ranging from 6-26 ½ to 6-36 ½

Live Cattle for June were up $1.57 ½ at 110.80 Aug Feeder cattle are dn $.02 ½ to 135.75 June Class III milk was dn .05 cents at 16.27

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