Trading on major feed grains remains light, with merchandisers characterizing transaction volume as flat.  Organic soybean prices continue to move sideways as uncertainty drives buyer decision making.  Imports are a question mark, but domestic production is also not yet in the bin.

There are some concerns over yields after a historically dry growing season in key soybean producing areas of the U.S.  May and June were dry at important crop developmental stages, guaranteeing some attrition of yield potential.  Dry weather persists in parts of the Corn Belt, resulting in historically low water levels on the Mississippi River and adding to yield concerns.

…