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Bob Larson Marketline Report for Wednesday, September 19th
by Bob Larson, click here for bio

Program: Market Line
Date: September 19, 2018

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This is Bob Larson with the Market Line Report for Wednesday, Sept 19th. Wheat follows the downward trend of other grains in Tuesday trading. From the floor of the CME in Chicago, here's Terry Roggensack.

ROGGENSACK … “December wheat down $1.17 ¾ off of the August high. Wheat has followed the other grain markets lower here recently. Is the wheat market over-done at this point? U.S. and world ending stocks are on the decline, have come down for the ’18-’19 season and it looks like looking forward we could see another decline into next year. USDA looking at Australia crop in the September supply-demand update. They put the Australia crop at 20-million tons. A lot of traders are well under 18-million tons now with drought conditions going on in Australia.”

Chicago Dec Wheat prices closed yesterday up 4 ¼ at 511

Dec Corn was dn 4 ¾ at 342 ¾

Portland prices for soft white wheat of Ordinary Protein for Sept ended the day unch ranging from 5-90 to 6-01 Hard Red Winter wheat with 11 ½ % protein, prices for Sept were dn 6 ¾ ranging from 6-06 to 6-26 DNS wheat with 14 % protein, prices for Sept were up 5 ranging from 6-65 ¼ to 6-75 ¼

Live Cattle for Oct were dn .20 at 113.30 Sept Feeder cattle are dn $1.50 to 155.95 Sept Class III milk was up .01 cents at 16.13

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