10/01/07 Wheat futures and another record high

Wheat futures closed higher on Friday setting all time highs with March contract topping $9.66 ½. Variant contracts at all three exchanges traded limit up bids before the market succumbed to end of month/quarter type profit taking. Funds were known buyers. On Friday Chicago December wheat was up 6 to 9.39 while Kansas City December added 9 ¾ and Minneapolis was up 21 ½. December corn futures closed lower on Friday. The market responded to USDA's quarterly stocks report. South Korea's decision to pass on a 220,000 ton corn tender due to high prices put added pressure on the market. December corn down 13 ¾ at 3.73. Portland cash white and club white wheat October mostly 10.25, up 25 to 35 cents. Pacific Northwest HRW 11.5 percent protein 9.80 up .12. Dark Northern Spring 14 percent protein mostly 9.81, up 29. Export barley at the coast 292 per ton. Live cattle closed mixed on Friday. December live cattle 99.80 down .40 November feeders up .80 to 116.62. November Class III milk at Chicago up .03 to 17.10.