11/24/06 Another shortened trading day

Marketline November 24, 2006 Some traders will be back from Thanksgiving for a shortened trading session today and they will get weekly export sale numbers from USDA. Wednesday wheat futures were mixed though contracts at Chicago were all higher. Joe Victor of Allendale Incorporated says Egypt bought some U.S. soft red winter wheat. Victor: "Egypt did buy 180-thousand tons of wheat. Sad to say 120-thousand of it came from French supplies. Sixty thousand came from U.S. suppliers." Some commentators say the fact Egypt did not buy any Black Sea wheat is an indication that region does not have the exportable supplies of grain expected. Warm dry weather into next week for the U.S. central and southern plains is also seen as supporting wheat futures. A report is expected today in Australia on that investigation into kickbacks to the Saddam Hussein regime in Iraq involving the Australian Wheat Board which could impact Australian wheat marketing. On Wednesday March Chicago wheat was up 4 ½ cents at 5-06 ¼. March corn up a penny at 3-78 ¼. Portland cash soft white wheat steady at mostly 4-93. Club wheat mostly 5-08. HRW 11.5 percent protein down two cents at 5-72. Dark northern spring 14% protein up two cents at 5-91. Live cattle futures were mixed Wednesday with feeders higher on muted gains in corn. Trading volume was light. Feb live cattle down 47 cents at 90-45. Jan feeders up 42 at 99-20. Jan Class III milk up a penny at 13-47. I'm Bob Hoff and that's Marketline on the Northwest Ag Information Network. Now this.