Monsanto Cooperating with SEC & Chinese Corn Purchase

Monsanto Cooperating with SEC & Chinese Corn Purchase. I’m Greg Martin and this is Market Line.

Monsanto Co. is cooperating with a Securities and Exchange Commission investigation into its glyphosate herbicide business, but cannot comment further according to Chief Executive Hugh Grant. The SEC is investigating customer incentive programs for glyphosate, which the company sells under its Roundup brand. Monsanto said it has received a subpoena for documents and is cooperating with the investigation.

China has bought at least 1.7 million metric tons of U.S. corn in the last four months--including 700,000 tons in recent weeks, traders. More sales are in the pipeline, and although the figure couldn't immediately be confirmed, there is speculation that China has made deals for a further 800,000 tons.

On Monday Chicago July wheat up 1/4 at 6-40 1/2.
July corn up 13 at 696
Portland soft white wheat and club wheat mostly 6-78.
New crop August white wheat 6-75 to 6-94.
Hard red winter 11.5 percent protein mostly 7.99 up 1 to unchanged.
DNS 14% protein mostly 10.70 up 17 to down 3
August live cattle down 17cents at 111.57
August feeders off a dime at 137.77
July Class III milk up .09 cents to 20.49

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