Weather and planting delays

Market Line April 6, 2009 Wheat futures put in some double digit gains Friday as traders were concerned about the potential of some very cold temperatures hitting parts of the southern hard red winter wheat belt and some soft red winter wheat areas. Louise Gartner for the Linn Group at the Chicago Board of Trade says weather delays generally are on trader's minds. Gartner: "The trade concerned about more planting delays like we saw last year and everybody is just hyped up about losing corn acres and spring wheat acres, or reducing yields, as producers struggle to get in the field." This Thursday USDA issues the April supply and demand reports. On Friday Chicago May wheat was up 13 cents at 5-63 ½. May corn up two at 4-04 ½. Portland soft white wheat any protein and maximum 10.5 percent protein three to five cents higher at mostly 5-60. August new crop unchanged to higher at 5-30 to 5-70. Club wheat 7-35. HRW 11.5 % protein 11-16 cents higher at 6-64. DNS 14% protein steady to 13 cents higher at 8-22. No Portland barley bids. Cattle futures had some triple digit gains Friday. Though there had been little cash fed cattle trade by the market close traders were more optimistic about prices. Some traders are looking beyond Easter to increasing beef demand. Technical factors helped both live and feeder contracts. June live cattle up 117 at 84-17. May feeders up 105 at 96-70. May Class III milk up a nickel at 11-45. I'm Bob Hoff and that's Market Line on the Northwest Ag Information Network. Now this.