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Bob Larson Marketline Report for Thursday, May 24th
by Bob Larson, click here for bio

Program: Market Line
Date: May 24, 2018

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This is Bob Larson with the Market Line Report for Thursday, May 24th. Numbers on Wednesday’s grain market are steady. From the floor of the CME in Chicago, here's Virginia McGathey.

McGATHEY ... "This high volatility has the trend to the upside, thank goodness, because the wheat has been so choppy lately. We weren’t sure exactly which was it was going to go, but the big volume, the big volatility, and the wide ranges over the last couple of days made us a little unsure as to which way they were going to go. The market is really starting to move their way up. Some of the traders are scratching their head as to say what’s exactly going on here. We had all the hot and dry weather in the southern plains. We thought the market would really be screaming by now, or at least be very firm. With it being very volatile it’s acting just wheat normally does. It’s a little bit of a thin market so it bounces around a lot more than we expect.”

Chicago July Wheat prices closed yesterday up 9 ½ at 531 ½

July Corn was up 3 ¾ at 408 ¼

Portland prices for soft white wheat of Ordinary Protein for May ended the day unch ranging from 5-80 to 6-04 Hard Red Winter wheat with 11 ½ % protein, prices for May were up 11 ¼ ranging from 6-76 ¾ to 7-01 ¾ DNS wheat with 14 % protein, prices for May were up 9 ranging from 7-87 to 8-02

Live Cattle for June were up $.55 at 105.42 ¼ May Feeder cattle are up $.95 to 134.90 May Class III milk was dn $.04 cents at 15.20

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