11/07/05 Another USDA monthly report coming

Marketline November 7, 2005 Grain futures traders say consolidation of positions could be the main feature this week as the trade awaits USDA's monthly crop production and supply and demand reports due out Thursday morning November 10th. There's particular interest whether corn and soybean production will increase. Wheat futures were mixed Friday. Joe Victor of Allendale Incorporated says the big news was, finally, USDA confirmation of a U.S. hard red winter wheat sale to Iraq. Victor: "Iraq has in fact purchased 800-thousand tons of U.S. wheat and it is nice to see that Iraq is willing to do some business with the United States after the all billions of dollars we have spent over there trying to provide a little bit of freedom." At Chicago Friday index fund rolling from old crop December wheat to new crop December was cited as a factor. On Friday December Chicago wheat was down two cents at 3-11 1/4. December corn down 3/4 at 1-95 ½. Portland cash white wheat down a penny at 3-49. Club wheat 3-98. PNW HRW 11.5 percent protein higher at 4-58. Dark northern spring 14% protein up a penny at 5-23. Export barley 105 dollars a ton. USDA says feeders and stockers were uneven last week while calves were steady to $4 higher. Cattle futures hit new highs late Friday after news came in of cash fed cattle selling at 89 to 90 dollars, two to three bucks higher than the previous week. Dec live cattle up 57 cents at 91-47. Jan feeders up 30 at 114-65. Dec Class III milk down a nickel at 13-15. I'm Bob Hoff and that's Marketline on the Northwest Ag Information Network.