Negative export news and wheat futures close lower

Market Line November 6, 2009 Wheat futures saw modest losses Thursday. Better weather for winter wheat planting in the Midwest was cited as a factor and as Louise Gartner for the Linn Group at the Chicago Board of Trade explains, the export news was not good. Gartner: "The export sales were very disappointing, only 284-thousand tonnes. That was below the range of estimates. And the second week in a row of very light export sales. And that was the other thing, was Egypt taking 120-thousand metric tons and the U.S. not getting any share of that. That is contributing to the very slow export sales program." The Egyptian tender went to Russia and France. U.S. soft white wheat export for this marketing are running about 17 million bushels ahead of last year at this time at about 62 million bushels. On Thursday Chicago December wheat was down 8 ¾ cents at 5-12 ¼. December corn down 7 ½ at 3-76 ½. Portland soft white wheat remained steady at mostly 4-85. Club wheat premium $3.25. HRW 11.5 % protein eight to nine cents lower at 5-53. DNS 14% protein down seven cents at 6-67 with guaranteed 14 percent at 6-79. No Portland barley bids. Cattle futures were narrowly mixed Thursday. Cash fed sales at about steady money was supportive. The higher stock market was also positive and lower corn was good for feeders. December live cattle up a dime at 86-35. January feeders up 47 at 97-17. December Class III milk down seven cents at 14-70. I'm Bob Hoff and that's Market Line on the Northwest Ag Information Network. Now this.