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Grain and soy markets are expected to open sharply lower amid followthrough selling.

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...