The CBOT was mixed on Tuesday with wheat values still languishing under stiff competition from Russia. Wheat values are drifting lower despite 10-year low U.S. supplies and tight ending stocks, but with exports off to a weak start amid competition from Russia, few want to be long the market. Corn started the day weaker but rallied though the afternoon in what looks like a temporary correction with the bulk of harvest pressure yet to come. Funds were net sellers in soybeans and soyoil but offset some of that selling by adding length to the soymeal market where exports remain strong. WPI maintains our neutral/bearish outlook for the major grain markets through the Northern Hemisphere harvest. Heat and dryness are growing in Brazil and causin...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, Livestock, North America, Russia