US MIDDAY: wheat drops

US wheat futures dropped 2 percent on Monday falling for the sixth straight day to a 6-1/2 month low on advancing harvest of the US crop and improved crop weather in Europe. Corn also fell for the sixth consecutive trading session on better growing weather in the US and on fund liquidation tied to concerns about the global economy amid a mounting crises surrounding Greece's debt issue.
Soybean futures turned higher as short sellers covered their positions following a fall of soy late last week to a one month low. At 9:50 am CDT (1450 GMT), CBOT July wheat was down 10 cents per bushel at $6.62-1/4 per bushel, July corn was down 1-3/4 at $6.98-1/2 and July soy was up 5 at $13.38.