Marketline Report for Monday, July 22nd
From the floor of the CME in Chicago, here's Virginia McGathey.
CHRISTY ... "Markets are mixed in low volume as trade continues to weight the impact of this weekend's excessive heat. With the better moisture that we had going into it along with a cooler, extended forecast the theme this week so far has been long liquidation as the better than expected rainfall has dampened over this weekend's heat wave. Lackluster exports sales data yesterday and declining South American cash values all also led to pressure in the corn market yesterday. So it goes without saying that the next 15 to 30 days of weather is still critical for yield potential and will continue to drive prices over the coming weeks."
Chicago Sept Wheat prices closed yesterday up 9 at 503 ½
Sept Corn was up 6 ¼ at 432
Portland prices for soft white wheat of Ordinary Protein for July ended the day unch ranging from 5-75 to 6-20 Hard Red Winter wheat with 11 ½ % protein, prices for July were up 7 ¼ ranging from 5-65 to 5-75 DNS wheat with 14 % protein, prices for July were up 3 ¾ ranging from 6-04 ¼ to 6-09 ¼
Live Cattle for Aug were up $.20 at 107.47 ½ Aug Feeder cattle are up $.55 to 139.70 July Class III milk was dn .02 cents at 17.40