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In week ended May 11 corn and wheat marked new marketing year lows with net reductions of 339,000 MT and 42,100 MT, respectively. Weekly soybean sales were down 73% from the week prior and 89% from the four-week average.

Wheat futures posted sharp losses overnight amid followthrough selling, while corn and soybeans faced lesser selling pressure.

Debt-limit talks | Black Sea grain pact extended 60 days | Farm policy updates

Cash corn and soybean prices well under year-ago.

Cash prices for corn and soybeans dropped sharply over the past week.

The new pricing system scraps a so-called fuel import parity policy that more closely aligned prices at the pump with the oil market and exchange rates.

After the Bell | May 17, 2023

Black Sea export deal extended, EU inflation increases and wholesale beef falls back below $300...

AI leader: Regulate us | Black Sea grain pact | Debt-limit talks | Worker requirements