News
Corn and wheat posted modest short-covering gains at midweek, which stemmed from U.S. dollar weakness and a rally in crude oil futures. Soybeans ended mostly lower; seemingly caught in the crossfire of apparent spread trading in derivatives.
All three crops remain rated well above year-ago.
The grain and soy complexes faced notable selling to begin the week as improving weather forecasts and technical selling weighed on prices.
Wheat inspections during the week ended July 11 topped pre-report expectations and are outpacing year-ago by 26.3%. Corn inspections also proved noteworthy at 1.08 MMT.
Most stunning failure for Secret Service in decades
Corn, soybeans and wheat each saw sustained selling pressure overnight. Corn futures negated Friday’s gain while soybeans and wheat forged fresh lows.
Trump survives assassination attempt at rally | GOP national convention | Hamas pulls out of cease-fire talks | USDA reports impact | Profiting from biofuels challenging
Trump assaulted at Pa. rally; blood coming from ear; conscious when he left site
Corn futures ended the session higher following a surprise cut to ending stocks in USDA’s supply and demand data today, while soybeans and wheat extended recent selling efforts.