Awaiting USDA reports

Market Line March 30, 2009 Traders await tomorrow morning's USDA Planting Intentions report. On Friday wheat futures had modest losses. Moisture in the Plains and in Chinese winter wheat regions were negative for prices. Lower stocks, crude and a higher dollar didn't help. As for tomorrow morning's planting and stocks reports Louise Gartner for the Linn Group at the Chicago Board of Trade says; Gartner: "We could see some positive numbers stem out of those planting reports but we do not expect to see much positive out of the stocks report. On these wheat numbers, those are definitely subject to change with the Northern Plains under blizzard conditions and flooding it is likely we will lose some more spring wheat acres as well. And also with the stress of the Texas wheat much of that had already been abandoned and most likely will start to shave some of those winter wheat acres as well." On Friday Chicago May wheat was down 7 ¼ cents at 5-07 ¼. May corn down 3 ¾ at 3-87. Portland soft white wheat any protein steady to a dime lower at mostly 5-50. Maximum 10.5 percent protein 5-55. August new crop lower at 5-11 to 5-30. Club wheat 7-25. Maximum 10.5 percent club wheat 7-30. HRW 11.5 % protein down a dime at 5-93. DNS 14% protein down a nickel at 7-63. No Portland barley bids. Live cattle futures were weak Friday as traders awaited more cash fed market sales. Outside market influences were also negative. Feeder were lower as well with technical selling a feature. April live cattle up a nickel at 84-32. April feeders down 30 at 93-12. April Class III milk up 48 cents at 11-72 on higher cheese prices. I'm Bob Hoff and that's Market Line on the Northwest Ag Information Network. Now this.