02/21/07 Most commodities see lower trade

Market Line February 21, 2007 Commodities in general were weak Tuesday in the first trading session following a long holiday weekend. Lower prices for crude oil, gold and a stronger dollar pressured wheat futures along with the prospects of warmer temperatures and more precipitation for the central U.S. wheat belt. The weekly export inspections report came in within trade expectations and was said not to influence traders. India's agriculture minister says his country's wheat crop condition is good. The Ukraine's Agriculture Ministry says its 2007 wheat crop is expected to be up over 27 percent from last year's nearly 14 million metric ton crop. On Tuesday Chicago March wheat was down 3 ½ cents at 4-64 ½. March corn down 1 ¼ at 4-15 1/4. Portland cash soft white wheat one to two cents higher at mostly 5-34. Club wheat 5-34. August new crop soft white lower at $5. HRW 11.5 percent protein down seven cents at 5-83. Dark northern spring 14% protein six to seven cents lower at 5-97. Barley at the coast 172 dollars a ton. August 145. Cattle futures were lower Tuesday on last week's disappointing cash live cattle values and sell stops and spreads added to the losses. Traders also noted that most commodities were lower Tuesday. April live cattle down 120 at 95-35. March feeders down 52 at 99-65. March Class III milk up 24 cents at 14-60. I'm Bob Hoff and that's Market Line on the Northwest Ag Information Network. Now this.