12/31/07 What will the investment funds do in 2008?

Market Line December 31, 2007 More big losses for wheat futures Friday. Some contracts were limit down. There is commentary that some traders are concerned the investment funds may have over invested in wheat in 2007 and may reallocate their money elsewhere for a better balance in 2008. It's noted funds have not been buyers of wheat on recent price breaks but have been buying corn and soybeans. Traders also seemed to focus on the negative Friday like diminishing U.S. wheat export sales during December and generally fair to good crop conditions around the world. Today is the last trading day of 2007 and the markets will be closed tomorrow for New Year's Day. On Friday Chicago March wheat was down 30 cents at 8-85. July new crop at Chicago down 14 at 7-78. March corn down 2 ¾ at 4-52. Portland cash soft white and club wheat five to 15 cents lower but still mostly 13-05. HRW 11.5 percent protein down 30 cents at 10-19. Dark northern spring wheat 14% protein down 24 at 11-60. Barley at the coast 258 dollars a ton. Cattle futures were mixed Friday. There was year-end squaring and some contract rolling. Feb live cattle down 12 cents at 96-05. March feeders up two cents at 106-35. Feb Class III milk up six cents at 17-87. I'm Bob Hoff and that's Market Line on the Northwest Ag Information Network. Now this.