Marketline Report for Friday, July 6th
This is Bob Larson with the Market Line Report for Friday, July 6th. Tariff fears play a big role in grain trading on Thursday. From the floor of the CME in Chicago, here's Terry Roggensack.
ROGGENSACK ... "Soybeans do not look cheap if trade wars accelerate into tomorrow. The number one factor, export pace already slow for soybeans and China's threatening to add another 25% tariff on U.S. soybeans if the U.S. retaliates. Second factor for the market is the weather, still looking quite bearish with the July heat. Not really a factor for soybeans. Soybean market likes it a little warm in the month of July. August will become more critical weather for the soybean market. Conditions are already rated very high."
Chicago July Wheat prices closed yesterday up 12 ½ at 506
July Corn was up ¾ at 342 ½
Portland prices for soft white wheat of Ordinary Protein for July ended the day unch ranging from 5-80 to 5-90 Hard Red Winter wheat with 11 ½ % protein, prices for July were up 20 ¼ ranging from 6-07 ¼ to 6-37 ¼ DNS wheat with 14 % protein, prices for July were up 12 ¼ ranging from 6-66 ½ to 6-89 ½
Live Cattle for Aug were dn $.07 ½ at 106.55 Aug Feeder cattle are dn $.22 ½ to 152.95 July Class III milk was dn .16 cents at 14.33
