03/26/07 Planting estimates this week

Market Line March 26, 2007 This Friday the markets will get an idea of just how many acres of corn, soybeans and spring wheat U.S. farmers intend to sow this spring. It will be the USDA's planting intentions report. Friday wheat futures closed lower following other grains. The outlook remains for excellent crop weather for the U.S. central and southern Plains. Expectations of a large U.S. and world wheat crop weigh on the market. The EU Grain Trade Lobby expects the EU-27 soft wheat crop this year to increase ten million tons over last year's production. Despite the lower futures old crop soft white cash bids at Portland were higher with USDA Market News saying some bids hit six dollars a bushel before backing off. On Friday Chicago May wheat was down 5 ½ cents at 4-61 ½. May corn down 6 ¼ at 4-03 ¼. Portland cash soft white wheat two three cents higher at mostly 5-95. Club wheat 5-95. August new crop soft white down a nickel at 5-15. HRW 11.5 percent protein mixed at 5-80. Dark northern spring 14% protein two to four cents lower at 5-99. Barley at the coast 170 dollars a ton. August at 155. Cattle futures closed mostly lower Friday in caution ahead of the on feed report and a drop in beef product prices. USDA pegged March 1 on feed inventory down four percent from a year ago, February placements were up four percent and marketings last month up seven percent. April live cattle down 30 cents at 98-10. April feeders down 12 at 105-12. April Class III milk down eight cents at 15-62. I'm Bob Hoff and that's Market Line on the Northwest Ag Information Network. Now this.