12/01/08 U.S. gets some Egyptian business

Market Line December 1, 2008 Wheat futures closed mixed on Friday during a short session. A stronger dollar was cited as limiting gains. The weekly export sales report from USDA came in within trade expectations. For the current marketing year white wheat exports total 49 million bushels compared to nearly 81 million last year at this time. Traders say Egypt purchased 55-thousand tons of U.S. soft wheat in a quick tender. Egypt recently complained about the quality of Black Sea wheat. Trade chatter continues about rain in South Wales in Australia and the potential impact on wheat quality. On Friday Chicago March wheat was up 5 ½ cents at 5-59 ½. March corn down 3 ½ at 3-67 ½. USDA Market News did not issue a Portland report Friday. Last Wednesday's prices for Portland soft white wheat any protein steady at mostly 5-40. A dime premium on maximum 10.5 percent protein. Club wheat mostly $6 with a dime premium on low protein. HRW 11.5 % protein mixed at 6-09. DNS 14% protein two to three cents higher at 7-91. No Portland barley bids. Cattle futures were mostly lower Friday in trading that featured positioning going into the weekend and the end of the month. Cash fed cattle did trade higher last week. Feeder futures are at a premium to the cash market. Feb live cattle down 50 cents at 87-65. Jan feeders down 50 at 91-70. Milk futures did not trade Friday. I'm Bob Hoff and that's Market Line on the Northwest Ag Information Network. Now this.