News
USDA reported net soymeal sales of 272,500 MT for week ended July 13, which exceeded top-end pre-report estimates. Meanwhile, net wheat sales fell short of trade expectations.
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Grain and soy futures are expected to open solidly higher after price gains overnight.
Corn, soybean and winter wheat futures traded higher overnight.
All three crops are still rated lower than last year at this time.
USDA’s weekly export inspection data for week ended July 13 showed a mild increase in corn inspections from the previous week, while soybeans and wheat declined notably.
Grain and soy futures are being supported by concerns with U.S. weather and Black Sea grain supplies.
EPA still has not sent its ‘final WOTUS rule’ to OMB