Wheat futures mostly higher
Market Line September 14, 2010 Wheat futures were higher at Kansas City and Minneapolis Monday with Chicago mixed. Positives were a lower dollar and export inspections that came in for wheat above trade expectations at 30 million bushels, up seven million from a week ago. Western Australia has been getting rains improving the situation there with reports saying the country will harvest its largest crop in the last five years. Meanwhile the U.S. spring wheat harvest continues. USDA’s Brad Rippey has the latest. Rippey: “The spring wheat harvest is approaching completion in most areas, 83% nationally. That is behind the five year average of 91% but ahead of last year‘s number of 67% on September 12th of 2009.” In addition to Montana, Idaho is one of the states running well behind average at only 69 percent complete. On Monday Chicago December wheat up 8 ¼ cents at 7-45. December corn up 5 ¼ cents at 4-83 ½. Portland soft white wheat five to ten cents higher at mostly 6-56. Club wheat premium mostly 20 cents. No Portland red wheat bids. Minneapolis December spring wheat up 10 ½ cents at 767 ½. Cattle futures had gains Monday. A stronger stock market and a lower dollar were cited as factors. Traders are thinking cash fed cattle may sell steady this week. October live cattle up 30 cents at 97-45. October feeders up 55 at 112-37. October Class III milk up 11 cents at 15-91. I’m Bob Hoff and that’s Market Line on Northwest Aginfo Net. Now this.
