Sporadic Grains

This is Matt Rice with the Market Line Report for June 15th. Grains not sure which way they want to go after trading both above and below the 30 day moving average. Let's check in with Joe Vaclavik from the floor of the CME in Chicago.

Vaclavik "Good afternoon, Joe Vaclavik standard grain with CME Group here in Chicago. The corn market has traded both sides of unchanged here today, we rallied back late in the session. I think we are really reacting to weather patterns and weather forecasts, a lot of the rains that were forecast here the last couple of days kind of missed the mark, a lot of it drifted north and missed portions of Iowa, Illinois, and into the eastern cornbelt. So being that event was a little disappointing. We are going to start seeing some developing dryness. We know that there's going to plenty of heat throughout the country in the next couple of weeks. I think the big question is whether or not we are going to catch some rain early next week."

Chicago July Wheat prices closed yesterday dn 6 ¼, at 486 ¾. July corn ended the day up 6 ½, at 436 ½. Portland prices for soft white wheat of 10 ½ % protein for June were dn 6 ¼ to unch, ranging from 5-25 to 5-60. Hard Red Winter wheat with 11 ½ % protein, prices for June were dn 2 ¼, ranging from 5-28 ½ to 5-43 ½. DNS wheat with 14 % protein, prices for June were dn 2 ½ to 7 ½, ranging from 6-27 ¾ to 6-42 ¾. June Live Cattle closed yesterday dn 40 cents, at 118.70. Aug Feeder cattle were up $1.10, at 141.75. June class III milk was dn 3 cents at, 13-28.