Markets Mixed

 Markets Mixed. I’m Greg Martin and this is Market Line.

Ideas that Russia will not see an extended period of hot and dry weather over the near-term plus talk of higher Russia production has help hold the wheat market in a long liquidation mode, A late recovery in soybeans, and to some extent corn, helped to support a recovery bounce off of the lows today but the market still closed moderately lower on the day. Talk that Russia grain production could be up near 85 million tons from 61 million last year helped to pressure.

Charles Nedoss with CME says the weather may be a factor.

NEDOSS: You did have improving weather forecasts really looking to help both corn and beans as well as both old and new crop wheat with some of the wheat areas drying out which will facilitate harvest. Some of the warmer weather here for all three of the crops to aid in the development with warmer weather.

On Monday Chicago July wheat down 16 1/4 cents at 6-19 1/2.
July corn down 8 1/2 at 661 1/2
Portland soft white wheat and club wheat mostly 6-59.
New crop August white wheat 6-55 to 6-79.
Hard red winter 11.5 percent protein mostly 7.83 down 20.
DNS 14% protein mostly 10.39 down 16
August live cattle down 2.12 at 111.37
August feeders down 1.37 at 137.22
July Class III milk up .07 to 20.35

I’m Greg Martin and that’s Market Line on Northwest Aginfo Net.