01/12/09 Market gets a lot of USDA numbers this morning

Market Line January 12, 2008 Friday saw a higher dollar, lower crude oil and a weak stock market but grain futures still posted gains. Wheat futures got spillover support from row crops where dryness in South America is a bullish fundamental. Some very cold temperatures are also a concern for Plains and Midwest winter wheat. Louise Gartner for the Linn Group at the Chicago Board of Trade says traders will be getting a lot of numbers from USDA to decipher this morning. Gartner: "Gonna get a look the prospective planting for winter wheat. We are get a look at the final production correction for corn and soybeans along with a regular monthly supp demand and world supply and demand report." On Friday Chicago March wheat was up 17 cents at 6-29 ½. March corn up four at 4-10 ¾. Portland soft white wheat any protein 10 to 15 cents higher at 5-90. Maximum 10.5 percent protein 5-95. Club wheat 7-40 and maximum 10.5 percent club wheat 7-45. HRW 11.5 % protein up 18 cents at 6-86. DNS 14% protein five to ten cents higher at 8-45. No Portland barley bids. Live cattle futures saw weakness in front months Friday but more strength in deferred contracts. Feeders were higher. The state of the economy is still a major factor for cattle and Friday's unemployment numbers were not good news. Feb live cattle down a nickel at 83-10. March feeders up 42 at 92-67. Gains in cheese again helped milk futures close higher with Feb Class III milk up 11 cents at 9-92. I'm Bob Hoff and that's Market Line on the Northwest Ag Information Network. Now this.