Updating harvest and seeding progress

Market Line November 9, 2009 It won't be until after the close today that futures traders will get USDA's update on row crop harvesting and winter wheat seeding but better Midwest weather should have advanced progress in both. Tomorrow morning USDA issues its monthly production and supply and demand reports. On Friday wheat futures were lower. Brian Hoops of Midwest Market Solutions says outside markets had an influence, like that 10 percent plus unemployment number. Hoops: "We saw energy markets tumble. Grains followed as that is bearish for the economy overall." In Canada Saskatchewan reports its spring wheat harvest at 80 percent complete. On Friday Chicago December wheat was down 15 cents at 4-97 ¼. December corn down 9 ½ cents at 3-67. Portland soft white wheat one to five cents lower at mostly 4-85. Club wheat premium $3.25. HRW 11.5 % protein down 17 cents at 5-36. DNS 14% protein down 11 cents at 6-56 with guaranteed 14 percent at 6-68. No Portland barley bids. Cattle futures saw triple digit losses Friday. The unemployment figure up over 10 percent was viewed as bearish for demand. The Goldman Roll is also underway. Some traders think Friday's lower futures will be bearish for cash fed cattle this week. December live cattle down 135 at $85. January feeders down 110 at 96-07. December Class III milk down a penny at 14-69. I'm Bob Hoff and that's Market Line on the Northwest Ag Information Network. Now this.