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.
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Soybean futures extended this week’s gains ahead of USDA’s reports during overnight trade. Corn followed to the upside, while wheat traded mostly lower.
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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.