01/13/06 Seedings report helps wheat futures

01/13/06 Seedings report helps wheat futures

Marketline January 13, 2006 Wheat futures closed higher Thursday with Kansas City leading the way. Rich Nelson of Allendale Incorporated says USDA's estimate of winter wheat acreage at 41.4 million acres was less than expected. Nelson: "Only one-point- oh million acres were added compared to last year. That was less than the two million acre increase inspected." In fact USDA pegged hard red winter wheat acreage down one percent from last year and that crop faces problems in the southern Plains. Soft red winter wheat acreage was up 19 percent from 2005. White winter down one percent. In the PNW Idaho's winter wheat acreage was down three percent, Oregon's down four with Washington the same as last year. Although it didn't change any export projections USDA did increase U.S. wheat ending stocks as well as world wheat carryout for the marketing year. On Thursday March Chicago wheat was up 2 ¾ cents at 3-33 ¼. March corn down 1 ¾ at 2-12 ¾. Portland cash white wheat steady at 3-43. New crop August white wheat unchanged to a penny higher at 3-57. Club wheat 3-90. PNW HRW 11.5 percent protein higher at 4-56. Dark northern spring 14% protein higher at 5-15. Export barley 101 dollars a ton. Cattle futures were higher Thursday on higher wholesale beef prices and steady cash fed cattle. Feb live cattle up 90 cents at 95-13. March feeders up 132 at 112-10. Feb Class III milk down a dime at 12-88. I'm Bob Hoff and that's Marketline on the Northwest Ag Information Network. Now this.
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