01/16/06 Another market holiday

Marketline January 16, 2006 Futures exchanges are closed today for the Martin Luther King Junior Holiday. Wheat futures were slightly higher Friday as they continued to get support from the Winter Wheat Seedings report and the concerns about the hard red winter wheat crop in the southern Plains. And Brian Hoops of Midwest Market Solutions in South Dakota, says it's the hard wheats, traded at Kansas City and Minneapolis, that will lead the market higher if indeed it is going to go higher. Hoops: "Wheat from the hard classes, particularly the hard red winter, is the main exportable commodity and that's where our wheat values are driven from. If we have strong exports based on the hard wheat classes that's when we can see prices move higher." On Friday March Chicago wheat was up 1 ½ cents at 3-34 ¾. March corn up ¾ at 2-13 ½. Portland cash white wheat steady at 3-44. New crop August white wheat 3-58. Club wheat 3-90. PNW HRW 11.5 percent protein unchanged at 4-56. Dark northern spring 14% protein up a penny at 5-14. Export barley 101 dollars a ton. Cattle futures were mixed Friday. Futures were supported late in the week on a firm cash trade and news South Korea would take U.S. boneless beef from cattle under 30 months of age. Feb live cattle up 45 cents at 95-58. March feeders down 13 at 111-97. Feb Class III milk down a dime at 12-78. I'm Bob Hoff and that's Marketline on the Northwest Ag Information Network. Now this.