04/22/05 Canadian wheat acres down

Marketline April 22, 2005 Wheat futures were narrowly mixed Thursday in quiet trading. Gary Hofer of Gary Hofer Commodities, says the weekly export sales report from USDA was uninspiring. Even a Stats Canada report on expected wheat acreage didn't seem to interest the market. Hofer: "Canadian wheat planted acreage was projected by their statistics agency at a lower figure than the trade had generally been expecting but the markets didn't react much and the U.S. dollar index was mildly positive. Dry conditions in Texas and Oklahoma and a possible light freeze in the upper Midwestern soft red country, otherwise the weather is just fine for wheat." On Thursday Chicago May wheat was up a quarter cent at 3-11. May corn up a half at 2-11 1/4. Portland cash white wheat steady to two cents higher at mostly 3-91. New crop August 3-72. Club wheat 3-95. PNW HRW 11.5 percent protein 4-06. Dark northern spring 14% protein 4-90. Export barley 104 dollars a ton. At auction this week, 400-500 pounds steers were 130 to 145 at Madras, Oregon, 136 to 145 at Idaho Falls. Seven to eight weight steers were 99 to 104 at Madras, 105 to 120 at Idaho Falls. All areas of the Plains saw active fed cattle sales Thursday with lives prices two dollars higher than last week at mostly 94. Boxed beef was steady to firm. Cattle futures were mixed in cautious trading ahead of this afternoon's Cattle on Feed Report. June live cattle down seven cents at 85-45. May feeders down 47 at 106-60. May Class III milk down nine cents at 13-94. I'm Bob Hoff and that's Marketline on the Northwest Ag Information Network.