03/14/07 Wheat and cattle futures lower

Market Line March 14, 2007 It was another day of wheat futures following corn lower Tuesday as lower outside commodities pressured corn. So are various private corn acreage estimates. Ryan Kilbrantz of ADMIS at the Minneapolis Grain Exchange says there was also an estimate on wheat acreage. Kilbrantz: "According to Farm Futures magazine&.sampling there." 27 After the close Egypt announced a tender for optional origin wheat results of which could influence the trade today. On Tuesday Chicago May wheat was down 4 ¼ cents at 4-66 ½. May corn down 2 ½ at 4-06 ¾. Portland cash soft white wheat two to five cents higher on good export demand at mostly 5-59. Club wheat 5-59. August new crop soft white was mixed at 5-05. HRW 11.5 percent protein unchanged to down two cents at 5-82. Dark northern spring 14% protein one to four cents lower at 5-97. Barley at the coast 170 dollars a ton. August at 152. Cattle futures closed lower Tuesday with live contracts getting pressure from profit taking and contract spreading. This despite continued gains in boxed beef values and USDA reporting beef exports were up 9.5% in January. April live cattle down 192 at 100-10. April feeders down 42 at 106-70. April Class III milk down seven cents at 14-98. I'm Bob Hoff and that's Market Line on the Northwest Ag Information Network. Now this.