08/11/06 USDA report day; cash rallies cattle

Marketline August 11, 2006 Wheat futures were mostly slightly lower Thursday ahead of USDA's monthly crop production and supply and demand reports which will be out before trading begins this morning. Joe Victor of Allendale Incorporated says the weekly export sales report yesterday was a little disappointing for wheat. Victor: "We were down about a third, about 32, 33% lower than the four week average on wheat, which is a little disappointing. Did take a little bit of the enthusiasm out of the market. And might see a little pressure coming into that Kansas City market primarily of the prospects in the next five to seven days of above normal type rainfall for the key western Kansas region. So lets keep an eye on that." On Thursday September Chicago wheat was down 1 ½ at 3-86 ½. September corn down at penny at 2-38 ¾. Portland cash white wheat was steady at mostly 3-99 getting support from some upcoming CCC tenders. Club wheat 4-24. HRW 11.5 percent protein mixed at 5-20. Dark northern spring 14% protein higher at 5-56. No Portland barley bids. There were a lot of new contract highs in cattle futures Thursday as sharply higher cash fed prices of up to 86 dollars drove contracts upwards. Boxed beef prices also helped the rally. Oct live cattle up 192 at 92-38. Oct feeders up 140 at 117-93. Sept Class III milk up eight cents at 11-76. I'm Bob Hoff and that's Marketline on the Northwest Ag Information Network. Now this.