Agriculture News
USDA reported net corn sales of 468,400 MT for 2022-23 and 470,800 MT for 2023-24, notably exceeding pre-report estimates.
Grain and soy futures are expected to open solidly higher after moderate to strong gains overnight.
Corn, soybean and spring wheat futures firmed amid followthrough buying overnight, while the winter wheat markets posted corrective gains.
The spring wheat CCI rating continued to decline.
USDA reported wheat inspections of 419,134 MT for week ended July 6, topping pre-report estimates, while corn inspections missed the respective range by nearly 160,000 MT.
Soy complex futures are expected to open sharply higher, with corn called firmer on spillover support.
Soybeans posted strong gains overnight, while corn and wheat followed to the upside. As
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Wheat futures are expected to lead losses in the grain and soy markets.
USDA reported weekly wheat sales of 405,800 MT for week ended June 29, while net corn sales rose 79% on the week to 251,700 MT. Soybean sales fell 17% week-over-week.