Crop production report tomorrow
Market Line July 11, 2011 Traders will get updated data Tuesday morning from USDA on crop production estimates and supply and demand tables. This will be the first field-based survey of spring wheat production. Friday wheat futures were mixed with Chicago again the strongest market as wheat was said to follow corn higher. Good crop weather was pointed to as to pressure spring wheat futures at Minneapolis. Weekly export sales were seen as about expected or slightly lower but cumulative sales are running ahead of the five year average for now. Crop progress and condition reports will out after today’s market close. On Friday Chicago September wheat up 16 ¾ cents at 6-51 ¼. September corn up 17 ¼ cents at 6-42 ¼. Portland soft white wheat and club wheat steady to eight cents higher at 6-61. New crop August white wheat 6-50 to 6-75. Hard red winter 11.5 percent protein up three cents at 7-60. DNS 14% protein down eight cents at 10-35. Cattle futures were mixed Friday. There was pressure from a lower stock market due to a disappointing jobs report. Boxed beef turned lower but cash fed cattle sold from two to two and a half dollars higher than the previous week. August live cattle down seven cents at 114-65. August feeders down 30 at 143-60. August Class III milk up 18 cents at 19-16. I’m Bob Hoff and that’s Market Line on Northwest Aginfo Net. Now this.
