09/19/06 Iraqi speculation helps wheat futures

Marketline September 19, 2006 Wheat futures were higher Monday. There was spillover support from corn and speculative buying interest surrounding a visit by members of the Iraqi Grain Board on ideas Iraq may soon buy more wheat from the U.S. Weekly export inspections were also just above the high end of trade expectations at nearly 18.4 million bushels. Mostly dry forecasts continue for Australia and Argentina. In the U.S. USDA meteorologist Brad Rippey says rains continue to delay winter wheat planting in the Plains. Rippey: "While that may be&&winter wheat crop." 08 Nineteen percent of the U.S. winter wheat was planted to start this week compared to 23 percent on average. On Monday December Chicago wheat was up three cents at 3-95 ½. December corn up six at 2-47 ¾. Portland cash soft white wheat was steady at mostly 4-21. Club wheat 4-56. HRW 11.5 percent protein up a nickel at 5-26. Dark northern spring 14% protein was mixed at mostly 5-19. Cattle futures were mostly higher Monday. There are ideas cash cattle will hold about steady this week despite the fact feedlot show lists are expected to be a little larger this week. Oct live cattle up 78 cents at 90-90. Oct feeders up 15 at 116-18. Oct Class III milk up three cents at 12-40. USDA reported Monday afternoon that milk production in the 23 major states during August was up 1.6 percent from August of 2005. I'm Bob Hoff and that's Marketline on the Northwest Ag Information Network. Now this.