Possible shift from Corn to Soy.

Possible shift from Corn to Soy. I’m Greg Martin. This is Market Line

Market Line November 16, 2009

The soy market opened strong and stayed strong as speculation continued as to whether producers would shift away from DDG’s to soy as animal feed for particularly hog and poultry according to Louise Gartner with the Linn Group.

GARTNER: That has not been so much showing up in the cash markets as those feeders say that they have plenty of corn on hand and they’re just watching the situation at this point but nevertheless there has been plenty of activity in the soy complex, in particular soy meal on the prospect that you could see a fairly big shift out of DDG’s into soy meal.

The wheat market also opened strong for the day, then saw a back off before ending on a strong up note.

On Friday Chicago December wheat up 7 ¼ at 538

December corn closed unchanged

Portland soft white wheat 4.85 to 4.95

Club wheat mostly 8.15

HRW 11.5 % protein mostly 5.69

DNS 14% protein mostly 9.94

December live cattle closed up .475 at 83.325

January feeders closed up at 92.575

December Class III milk closed up .09 at 14.41

I’m Greg Martin and that’s Market Line on the Northwest Ag Information Network.