03/16/07 Wheat futures down old crop white up

Market Line March 16, 2007 Old crop cash soft white wheat bids at Portland continued to set new marketing year highs even as wheat futures saw another down day Thursday. Wheat futures tried a recovery bounce early in the session but the outlook for good crop conditions and weakness in other markets helped pull the market lower. The weekly export sales report did not attract much attention and was within trade expectations. On Thursday Chicago May wheat was down 7 ¾ cents at 4-55 ½. May corn down seven at 3-97 ¾. Portland cash soft white wheat four to five cents higher at mostly 5-62. Club wheat 5-62. August new crop soft white down four to five cents at 4-95. HRW 11.5 percent protein down seven cents at 5-71. Dark northern spring 14% protein down eight cents at 5-87. Barley at the coast 170 dollars a ton. August at 152. USDA Thursday reported Western states held 107 million hundredweight of potatoes in storage as of March 1st, down seven percent from last year. Idaho stocks were down four percent, Washington's down 12 percent while Oregon potato stocks were down 16 percent. Live cattle futures were lower Thursday on spread trading and fund liquidation. Feeders were firm. April live cattle down 92 cents at 99-05. April feeders up 32 at 107-20. April Class III milk up 20 cents at 15-20. I'm Bob Hoff and that's Market Line on the Northwest Ag Information Network. Now this.