Marketline Report

Soybeans closed with sharp gains, corn had modest gains and wheat trade mostly flat. From the floor of the CME Group, Todd Horwtiz shares
Horwitz: “Tuesday’s grain saw mixed markets — soybeans very high, corn couple of cents higher, wheat pretty much flat. You are hearing all kind of reasons why: it’s too wet for soybeans, the corn could take enough water, we’ve got a big report coming out in two weeks. Bottom line is the markets have reached some sort of support level and certainly as a producer or farmer I’m not selling them down here. We’ve got all the news in the world that says that prices should go lower and yet they can’t drive them lower.”
Chicago July Wheat ended Tuesday up 2 cents at 5-47 and 1/2. July corn ended the day up 5 and 3/4 cents at 3-54.
Portland prices for soft white wheat of ordinary protein were steady to down 3/4 cents for August delivery of new crop ranging between 5-85 and 5-94 and 1/2. White Club wheat of ordinary protein had no price comparisons. Hard Red Winter wheat with 11.5 percent protein prices were down 2 and 1/4 cents at mostly 6-00 and 1/2. DNS wheat with 14 percent protein prices were up 27 cents at mostly 7-35 and 1/2.
August live cattle were up a dime on Tuesday at 151.22 and half. August Feeder cattle were up 95 cents at 224.85. July class III milk was up 4 cents at 16-99.