01/05/09 Wheat and cattle futures start 09 higher

Market Line January 5, 2008 Wheat futures started the 2009 trading year with modest gains Friday in a very choppy session. A supportive factor for wheat says Louise Gartner with the Linn Group at the Chicago Board of Trade was that weekly export sales came in above expectations. Gartner: "They did come in at 418-thousand tons. No big sales just a lot of small lot orders; 60 to Egypt, 60 to Iran and some other miscellaneous sales, but nevertheless finally getting above that 300-thousand ton mark." For this marketing year white wheat exports total nearly 64 million bushels compared to nearly 96 million at this time last year. Results of a Saudi Arabian tender for 500-thousand tons of milling wheat may be known today. On Friday Chicago March wheat was up a ¼ cent at 6-11. March corn up 5 ¼ cents at 4-12 ¼. Portland soft white wheat any protein was steady at mostly 5-70. Maximum 10.5 percent protein 5-80. Club wheat 7-20. Maximum 10.5 percent club wheat 7-30. HRW 11.5 % protein mixed at 6-74. DNS 14% protein unchanged at 8-50. No Portland barley bids. Cattle futures posted triple digit gains Friday on light volume in what traders said was mainly a technical trade. Feb live cattle up 105 at 87-10. March feeders up 185 at 95-52. Milk futures trading remained closed Friday. I'm Bob Hoff and that's Market Line on the Northwest Ag Information Network. Now this.