11/22/06 Trading holiday Thursday

Marketline November 22, 2006 Wheat futures were mostly higher Tuesday on what some said was mainly a lack of selling interest going into the Thanksgiving holiday. Trading hours are shortened today and Friday and exchanges are closed Thursday. Higher corn helped wheat futures and a drop in U.S. winter wheat crop ratings was also positive for prices. Joe Victor of Allendale Incorporated says there are some problems in the soft red winter wheat belt. Victor: "Lots of reports surfacing throughout the greater Midwest that we may not see quite has heavy plantings especially for the soft red winter wheat contract. As time is expiring farmers are still trying to wrap up harvest for corn and soybeans. Thus, something to think about when we get into that January 12th report. You may not see as many winter wheat plantings especially in the soft red winter wheat region." Despite rains elsewhere China's Shandong Province remains dry. On Tuesday December Chicago wheat was up 4 ¾ cents at 4-79 ¾. December corn up 1 ½ at 3-61 ¼. Portland cash soft white wheat steady to three cents lower but mostly 4-94. Club wheat also mostly 4-94. HRW 11.5 percent protein three to six cents higher at 5-74. Dark northern spring 14% protein up three cents at 5-89. Cattle futures were higher Tuesday. Cash fed cattle at 87-50 along with higher boxed beef values helped live cattle contracts. Dec live cattle up 45 cents at 87-87. Jan feeders up a dollar-ten at 98-77. Dec Class III milk down a dime at 13-70. There will be no Marketline November 23rd, Thanksgiving Day. I'm Bob Hoff and that's Marketline on the Northwest Ag Information Network. Now this.