07/13/07 Spud production and consolidation talks

Wheat futures closed higher for the most part on Thursday. Chicago September wheat was off ½, 6.21 ½ but all other wheat quotes up on the day following a USDA monthly report and impressive export sales figures. USDA chief economist Keith Collins says wheat production is down about three percent from last month's estimate. COLLINS "Within the classes of wheat, hard red winter wheat down seven percent in production from last month again that's pretty significant because that's a core class of wheat that we use for many important uses in the bakery and cereal industry." Weekly export sales of 1.183 million metric tons were well above any estimates. September corn 3.51 ½, up 8 ½. Portland cash white 6.40 up a dime. Club White also up 10 to 6.48. Pacific Northwest HRW 11.5 percent protein up 7 to 6.61. Dark Northern Spring 14 percent protein up 4 to 7.17. Barley at the coast 164 dollars a ton through November. August live cattle 92.12 down .12. August feeders down 32 at 114.30. August Class III milk at Chicago unchanged at 19.05