Low protein DNS
Market Line September 21, 2009 Northwest producers of dark northern spring wheat may find of interest that wheat organizations in Minnesota and North Dakota say sampling of the first half of the spring wheat harvest in those states shows DNS protein about one percent lower than last year at about 13.7 percent. Meanwhile, on Friday wheat futures were lower in a week dominated by weather in the corn market. Australia has seen some rains improving wheat conditions there. Louis Gartner for the Linn Group at the Chicago Board of Trade says wheat seems content to move sideways for now. Gartner: “The market is showing some interesting resolve here as we have plenty of reasons to knock the market down fundamentally, but the market seems to want to be stable and just move sideways.” On Friday Chicago December wheat was down 4 ½ cent at 4-57 ¼. December corn down 11 cents at 3-18. Portland soft white wheat six to ten cents lower at 4-48. Club wheat premium $3. HRW 11.5 % protein narrowly mixed at 5-07. DNS 14% protein also mixed at 6-37. No Portland barley bids. USDA says the feedlot inventory of cattle on September 1st was down one percent from a year ago, August placements were up two percent and marketings last month four percent below August of 2008. Ahead of the report October live cattle down 22 cents at 85-50. October feeders up 32 at 97-02. October Class III milk up 39 cents at 12-55. USDA reported Friday that August milk production in the major producing states was down two-tenths of a percent from August of 2008. I’m Bob Hoff and that’s Market Line on the Northwest Ag Information Network. Now this. ?
