Corn and soybeans saw sustained selling pressure most of the night. Wheat favored the upside for the most part, though prices turned sharply lower following this morning’s export sales report.
Weekly corn sales for the week ended April 11 rose 54% from the previous week, but still down 45% from the four-week average. Soybean sales were up 59% from the previous week and 62% from the four-week average.
Corn, soybeans and wheat each traded in relatively tight ranges overnight, as corn and wheat mildly favored the upside and soybeans posted modest losses.
Wheat inspections for the week ended April 11 were up 34,000 MT from the previous week and above the expected pre-report range. Corn and soybean inspections were each lower on the week, but within expectations.
