Private acreage estimates

Market Line March 16, 2008 Wheat futures closed lower Friday. There was some fund liquidation and continued weakness from USDA's report earlier in the week. Lynn Smith with the Zaner Group at the Chicago Board of Trade says private firms are issuing their acreage estimates ahead of USDA's official report March 31st. Smith: "During the session Informa Economics, a private analytical firm, estimated all 2009 wheat plantings at 59.7 million acres and the spring wheat plantings at just over 14 million acres. Just a little bit negative. Not a huge number." Allendale Incorporated's estimate is less than that with total wheat acreage pegged at 57.9 million acres of which 13.2 million is spring wheat. On Friday Chicago May wheat was down 6-¾ cents at 5-18 ¼. May corn up 3 ¼ at 3-88 ½. Portland soft white wheat any protein steady to a penny lower at mostly 5-45. Maximum 10.5 percent protein 5-55. August new crop 5-20 to 5-30. Club wheat moved higher at 7-35 with maximum 10.5 percent club wheat at 7-40. HRW 11.5 % protein down six cents at 6-20. DNS 14% protein down nine cents at 7-79. No Portland barley bids. Cattle futures closed mostly higher Friday. The stock market provided some support but traders were disappointed in the cash fed cattle market. Front month feeder contracts benefited from their discount to the CME feeder cattle index. April live cattle up 75 cents at 84-65. April feeders up 85 at 92-05. April Class III milk up 17 cents at 10-87 I'm Bob Hoff and that's Market Line on the Northwest Ag Information Network. Now this.