06/30/06 Acreage and stocks report today

Marketline June 30, 2006 Futures traders will get USDA numbers on U.S. spring wheat acres and quarterly wheat stocks before they begin trading this morning. Pre-report expectations were for 2006 all-wheat plantings to total 57.7 million acres, which would be above USDA's March estimate of 57.1 and above last year's all-wheat plantings of 57.2 million acres. Today is also first notice day on deliveries for July contracts. Wheat futures were higher Thursday with spring wheat contracts at Minneapolis hitting new contract highs. Strong weekly export sales and forecasts for more hot, dry weather in the northern Plains and Canada provided fundamental support. On Thursday September Chicago wheat was up seven cents at 3-95. September corn up 2 ¾ at 2-39 ¾. Portland cash white wheat was steady to two cents higher at mostly 3-80. First half August unchanged to higher at 3-85. Club wheat 3-80. HRW 11.5 percent protein up eight cents at 5-62. Dark northern spring 14% protein three to six cents higher at 6-03. No Portland barley bids. Cattle futures saw a sharp drop Thursday. The steep break was called largely technical in nature with heavy profit taking weighing on the market and traders getting positioned for the upcoming holiday. Aug live cattle down 170 at 85-58. Aug feeders down 2-20 at 115. Aug Class III milk down nine cents at 11-61. I'm Bob Hoff and that's Marketline on the Northwest Ag Information Network. Now this.