Corn, soybean and wheat export inspections all declined from the previous week
Corn and soybeans are under pressure with wheat futures supported by crop concerns. Livestock futures are mildly to moderately lower to start the week.
Wheat futures extended last week’s gains overnight amid crop concerns, while the corn and soybean markets were pressured by improved weather.
Wheat futures took back some of Thursday’s strong gains overnight. Soybeans and corn more than erased yesterday’s gains, with corn scoring new lows for the week.
Big year-over-year changes in U.S. meat exports through the first quarter driven by shifting Chinese demand.
Rains over the past week failed to improve the overall drought situation for the U.S. winter wheat crop.
Corn export sales were as expected, while old-crop soybean export sales topped expectations.
Wheat futures led price gains overnight amid active followthrough buying to yesterday’s strong gains. Corn and soybeans followed wheat higher.
Corn and soybean basis strengthens, but cash prices fall.
Trade was relatively light in the grain and soy markets for much of the overnight session, but buyer interest has picked up early this morning.

Brian Grete