03/09/07 New USDA numbers today

Market Line March 9, 2007 The grain trade gets updated USDA supply and demand numbers this morning. Average trade guesses are for a slight increase in wheat ending stocks. Wheat futures were mixed Thursday. Joe Victor of Allendale Incorporated says there was support for wheat from the weekly export sales report. Victor: "And of course the trade was relatively impressed with the fact of 422-thousand tons of wheat sold for the week ended March 1st and that was close towards the top end of the range of 450-thousand." Argentina is temporarily halting exports of wheat and flour but some market observers say most of their crop has been sold anyway. On Thursday Chicago May wheat was down 2 ½ cents at 2-75 ½. May corn down three at 4-21 ½. Portland cash soft white wheat was steady to three cents higher at mostly 5-50. Club wheat 5-50. August new crop soft white unchanged at 5-06. HRW 11.5 percent protein down a penny at 5-87. Dark northern spring 14% protein one to two cents higher at 6-03. Barley at the coast 170 dollars a ton. August at 151. Cattle futures posted triple digit gains Thursday with many contracts hitting new highs There was speculative buying and short covering as cash cattle sold for 98-99 dollars a hundredweight and boxed beef cutouts were again higher. Cattle coming to market are lighter weight due to stress from winter storms. April live cattle up 247 at 101-02. April feeders up 182 at 106-72. April Class III milk up 35 cents at 14-95. I'm Bob Hoff and that's Market Line on the Northwest Ag Information Network. Now this.