Official winter wheat estimate this week

Market Line May 9, 2011 This Wednesday USDA will issue a field surveyed estimate of production for this year’s U.S. winter wheat crop. The Wheat Quality Council tour of Kansas last week pegged that state’s crop at about 257 million bushels, the smallest since 1996. That helped Kansas City lead wheat futures higher Friday. As did the weather outlook for the southern plains for this week, which could further reduce the crop. Allen Motew of QT Weather for the Linn Group explains.

Motew: “What this does farther south is also produce 35 mile per hour winds and 100-degree temperatures across the southern plains. This hot weather will move up into Nebraska and Kansas too.”

On Friday Chicago July wheat up 5 ½ cents at 7-59 ½. July corn down 22 ½ cents at 6-86 ¼. Portland soft white wheat three to ten cents higher at 7-65. Club wheat premium at Portland mostly 13 cents. New crop August white wheat steady to seven cents higher at 7-60 to 7-75. Hard red winter 11.5 percent protein up 17 cents at 9-14. DNS 14% protein up eight cents at 11-85.

Cattle futures were mixed Friday. Lower cash prices last week and thoughts cash fed cattle will be lower again this week brought pressure. The unemployment report and a higher stock market offered support. Export demand remains strong too. June live cattle up a dime at 109-85. August feeders up 105 at 132-80. June Class III milk steady at 17-10.

I’m Bob Hoff and that’s Market Line on Northwest Aginfo Net.

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