Wheat and cattle futures get help and close higher

Market Line April 30, 2009 Wheat futures continued on the upside Wednesday. Louise Gartner for the Linn Group at the Chicago Board of Trade says wheat was a follower of soybeans and corn. Also; Gartner: "Of course all the grain complex was given extra support by a very strong DOW, a very weak dollar, energy markets higher and the weather supporting it." The weather being spring wheat planting delays in the Northern Plains. The Buenos Aires Grain Exchange is projecting Argentine wheat plantings at 3.7 million hectares, down from last year's 4.55. Egypt tendered for wheat after the close Wednesday. Iraq is also expected to tender this week. On Wednesday Chicago July wheat was up a dime at 5-32. July corn up 17 ¾ at 4-01 ¼. Portland soft white wheat any protein steady to four cents higher at mostly 5-30. Maximum 10.5 percent protein 5-35. August new crop 5-25 to 5-35. Club wheat 6-30. Maximum 10.5 percent club wheat 6-35. HRW 11.5 % protein six to nine cents higher at 6-15. DNS 14% protein up eight cents at 7-93. No Portland barley bids. Bullish outside markets like the stock market helped cattle futures close higher Wednesday. Short covering was a feature. Boxed beef prices moved lower. There were some packer bids at 85 dollars in the Plains. June live cattle up a dollar at 82-95. August feeders up 107 at 100-12. June Class III milk up nine cents at 10-91. I'm Bob Hoff and that's Market Line on the Northwest Ag Information Network. Now this.