News
Weekly export sales data showed net new crop corn sales totaled 758,400 MT in week ended Aug 3, while new crop soybeans sales totaled nearly 1.1 MMT.
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USDA will also update its wheat crop estimates, along with the U.S. and global balance sheets.
Soybeans traded higher overnight, while wheat faced pressure and corn was caught in the middle.
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Grain and soy futures are expected to open lower amid generally favorable weather and bearish Chinese trade data.
Corn and soybeans faced followthrough selling overnight, while wheat futures pulled back from Monday’s gains.
The corn CCI rating is now less than 1% below year-ago, while soybeans and spring wheat are still notably under last year at this time.