04/16/07 Waiting for crop progress report

Market Line April 16, 2007 Grain traders are anxiously awaiting this afternoon's USDA crop progress report which may provide more of an update on damage to winter wheat from the recent freeze in the Plains and Midwest. But that won't come out until after trading closes today and as Joe Victor of Allendale Incorporated says it may not have been easy to get some of the data given the wintry weather the Plains has experienced. Victor: "With huge snows impacting the western Kansas region. Some of the main growing areas six to 12 inches of snow. And of course now even some the northwestern locations as much as 12 to 16, possibly up to 18 inches of snow." On Friday Chicago May wheat was up 20 ½ cents at 4-78 ½. May corn up 10 ¼ at 3-69. Portland cash soft white wheat two to five cents higher at mostly 5-99. Club wheat 5-99. August new crop soft white 18-19 cents higher at 5-25. HRW 11.5 percent protein seven to ten cents higher at 6-07. Dark northern spring 14% protein seven to eight cents higher at 6-20. Barley at the coast 170 dollars a ton. August at 152. USDA reported Friday that western states held 81.3 million cwt of potatoes in storage as of April 1st, down eight percent from last year. Stocks were down six percent in Idaho, down 16 percent in Washington and down 11 percent in Oregon. Most live cattle futures traded higher Friday while feeders posted losses thanks in part to the rally in corn. June live cattle up 22 cents at 92-70. May feeders down 67 at 107-72. May Class III milk up 44 cents at 16-45. I'm Bob Hoff and that's Market Line on the Northwest Ag Information Network. Now this.