08/10/05 Better row crop weather pressures grains

Marketline August 10, 2005 Weather forecasts that are more beneficial for Midwest row crops pressured corn and soybean futures Tuesday and wheat contracts followed lower. Peter Georgantones of Investment Trading Services in Minnesota called it a sloppy day of trading. Georgantones: "Friday's crop report should based on the condition crop report we got this week show maybe a little smaller wheat production number here. That should be a little supportive. Maybe help find a bottom here. Otherwise we are just going to be sort of chopping around here all week until we get the numbers to work with from Friday's report." That report will include surveyed yield forecasts for spring wheat, corn and soybeans and updated supply and demand numbers for grains. On Tuesday Chicago September wheat was down 2 3/4 cents at 3-19 ½. September corn down 3 1/4 at 2-18 3/4. Portland cash white wheat one to two cents lower at mostly 3-59 with some country selling noted yesterday morning. Club wheat 3-64. PNW HRW 11.5 percent protein lower at 3-93. Dark northern spring 14% protein lower at 4-50. Export barley 105 dollars a ton. Cattle futures were mixed Tuesday. Technical selling and concerns about larger feedlot showlists weighed on the market. Oct live cattle down seven cents at 80-65. Oct feeders down 32 at 106-15. Sept Class III milk down a penny at 13-93. I'm Bob Hoff and that's Marketline on the Northwest Ag Information Network.