A market holiday

Market Line April 10, 2009 Futures exchanges and government price reporting offices are closed today and will reopen Monday. Wheat futures closed lower Thursday. USDA reduced the U.S. wheat ending stocks in its report yesterday but it boosted world wheat carryout by over two million metric tons. USDA made no change in white wheat ending stocks. Weekly export sales came in within the range of trade expectations. Louise Gartner for the Linn Group at the Chicago Board of Trade sees the wheat market as weak. Gartner: "And the inability of wheat to take out the March highs earlier this week when we knew we had frost damage, just really hadn't been able to assess it yet, this market I think clearly demonstrates the underlying weakness of this market." On Thursday Chicago May wheat was down a dime at 5-22. May corn down 6 ¾ at 3-90 ¼. Portland soft white wheat any protein steady at mostly 5-50. Maximum 10.5 percent protein 5-55. August new crop lower at 5-30 to 5-45. Club wheat 7-25. Maximum 10.5 percent club wheat 7-30. HRW 11.5 % protein 13-14 cents lower at 6-10. DNS 14% protein down 13 cents at 7-83. No Portland barley bids. Cattle futures closed higher Thursday. A good fed cattle cash market and the higher stock market were factors. Boxed beef moved up some again Thursday. Feeders have seen a good cash market this week too. June live cattle up 82 cents at 84-60. May feeders up 155 at 98-92. May Class III milk down 14 cents at 10-87. I'm Bob Hoff and that's Market Line on the Northwest Ag Information Network. Now this.