Cumulative old- and new-crop corn export sales totaled only 353,900 MT.
Corn and soybean futures pulled back overnight from strong gains earlier this week. Wheat also traded lower.
Corn basis firmed along with a rally in futures. Soybean basis declined as futures rallied.
Minor changes expected to U.S., global ending stocks
USDA is expected to fine tune its U.S. and global old- and new-crop balance sheets in Friday’s Supply & Demand Report.
Soybean futures scored new contract highs amid strong followthrough buying overnight. Corn and wheat futures also firmed.
World Bank warns of 1970s-style stagflation
The World Bank slashed its global economic growth for 2022 to 2.9% from 5.7% last year as the war has compounded pandemic-induced damage.
