12/30/05 Another long holiday weekend

12/30/05 Another long holiday weekend

Marketline December 30, 2005 Today is the last trading day of the year and futures exchanges will close early and be closed Monday. Wheat futures were lower Thursday as profit taking took over following the recent run up in prices. Peter Georgantones of Investment Trading Services in Bloomington, Minnesota says there wasn't much in the news stream. Georgantones: "Not much in the way of news here. I'm hearing a lot of horror stories in the Oklahoma-Texas area and the potential for winter wheat. But then the bears say but we are planting a lot more acres of soft red which we'll find out on the 12th of January." USDA's weekly export sales report delayed by the holiday Monday will be out this morning. On Thursday March Chicago wheat was down 8 1/4 cents at 3-37 1/4. March corn down 5 1/4 at 2-11. Portland cash white wheat steady to two cents higher at mostly 3-48. Club wheat 3-94. PNW HRW 11.5 percent protein lower at 4-62. Dark northern spring 14% protein lower at 5-13. Export barley 100 dollars a ton. Hong Kong has announced it will begin taking boneless U.S. beef under 30 months of age. Back in 2003 Hong Kong was the fifth largest export market for U.S. beef. Cattle futures were lower Thursday as traders awaited cash market developments. Some think wholesale beef prices will decline. Feb live cattle down 15 cents at 96-40. March feeders down 28 at 113-97. Feb Class III milk up seven cents at 12-85. I'm Bob Hoff and that's Marketline on the Northwest Ag Information Network.
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