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Weekly wheat inspections during the week ended May 23 rose 170,704 MT from the previous week, while corn inspections fell nearly 150,000 MT. Meanwhile, soybean inspections rose modestly on the week.

Wheat futures are higher with soybeans under pressure and corn futures caught in the middle. Cattle futures are higher with lean hogs under pressure…

Trade policy initiatives evident around the world as U.S., China, EU mull big changes

Wheat led strength overnight, soybeans led to the downside and corn was caught in the middle, though each faced increased selling pressure into the break.

Wheat futures posted strong gains overnight coming off the extended holiday weekend amid ongoing Russian crop concerns. Corn followed to the upside, while soybeans slumped after a firmer start.

After the weekend update

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The decline in feedlot numbers was the first drop versus year-ago in eight months.

Beef stocks declined less than average during the month, while pork inventories built more than normal.