USDA reports today
Market Line March 31, 2010 Wheat futures were higher Tuesday as traders positioned for this morning’s planting intentions and grain stocks reports from the USDA. Expectations are for March 1st wheat stocks to show an increase over last year. Mark Chiodo of Chiodo Commodities says traders are also looking for an increase in spring wheat plantings. Chiodo: “Spring wheat, a year ago we planted 13.27 million acres and the average guess is 13.43 so they guess we are going to plant another 250-thousand or so more spring acres.” On Tuesday Chicago May wheat was up 7 ¼ cents at 4-72. May corn down 2 ½ cents at 3-54 ½. Portland soft white wheat five to ten cents higher at mostly 4-73. New crop August soft white a nickel to a dime higher at 4-70 to 4-80. Club wheat premium $3-67. HRW 11.5 % protein six to seven cents higher at 5-22. DNS 14% protein up eight to nine cents at 6-94. No Portland barley bids. Live cattle futures were mixed Tuesday with feeders mostly higher. There was carryover support from Monday and traders are also thinking of steady to higher fed cattle this week. June live cattle up 27 cents at 93-17. May feeders up 107 at 110-97. May Class III milk up six cents at 13-33. The All-Milk Price this month was estimated at $15.10 down from $15.90 in February. I’m Bob Hoff and that’s Market Line on the Northwest Ag Information Network. Now this.
