05/15/08 Grains lose ground, export numbers due out

Speculative traders ignored the grains in Wednesday trading due to a stronger dollar and wheat and corn futures lost ground. On Wednesday Chicago July wheat was down 31 ¾ to 7.64 which Kansas City lose 24 ¼ to 8.11 and Minneapolis July wheat was off 9 to 10.38. Analyst Peter Georgeantones will be watching for export sales figures today. GEORGEANTONES "They're looking for 350 to 600 thousand tons of wheat sold but again I think most of that is going to go towards new crop so. The business coming out now I think is going to be for new crop delivery and so you know we just not just demand in here right now coming into new crops. Some of these crops their talking about are looking a little better." July corn down 11 at 5.96 ¼. Portland cash white August new crop 7.95 down a nickel Pacific Northwest HRW 11.5 percent protein lost 23 to 8.82 Dark Northern Spring 14 percent protein August 9.63 down 23. June live cattle gained 27 to 94.62 August feeders up a penny at 112.75. June Class III milk at Chicago unchanged at 19.83.