02/16/07 Wheat futures up; spud stocks down

Market Line February 16, 2007 Wheat futures were higher Thursday though on little news. USDA delayed until today the export sales report. Mark Chiodo of Slipka Commodities at the Minneapolis Grain Exchange says wheat had been following corn lower. Chiodo: "But then an end of the day charge by, it looked to be a fund related entity in Kansas City, came in and hit the market there in the last 15 minutes for a large number of contracts, put KC back up nine and brought Minneapolis up half as much and Chicago up a couple." On Thursday Chicago March wheat was up 2 ¼ at 2-53 ¼. March corn down ¾ at 4-07 ½. Portland cash soft white wheat three to five cents higher at mostly 5-30. Club wheat 5-30. August new crop soft white was lower at 4-93. HRW 11.5 percent protein nine to ten cents higher at 5-76. Dark northern spring 14% protein up a nickel at 5-95. Barley at the coast 172 dollars a ton. August 145. USDA pegs western potato stocks at 131 million hundredweight as of February 1st, down six percent from last year. Idaho stocks are down two percent, Washington's down ten and Oregon's down 19 percent. Nationally potato disappearance is up five percent. Cattle futures were mixed Thursday as traders awaited cash fed market developments. USDA did report the Canadian cattle inventory down three percent this year from last. April live cattle up 12 cents at 96-40. March feeders down 35 at 100-dollars 45 cents. March Class III milk down seven cents at 14-25. I'm Bob Hoff and that's Market Line on the Northwest Ag Information Network. Now this.