Corn prices have weakened at midday on beneficial rainfall in Argentina and weakness in the soy complex.
Weekly corn export sales came in at 60 mb, which was on the high end of trade expectations. Year-to-date commitments total 1.762 bb, up 28% from a year ago.
The USDA confirmed the sale of 330,000 mt of U.S. corn to Mexico yesterday for delivery in 25/26.
Soybeans have drifted into the red at midday on tensions between China and the U.S. regarding tariffs.
Weekly soybean export sales came in at the low end of expectations at 14 mb. Year-to-date commitments total 1.582 bb, up 12% from a year ago.
China reportedly filed a World Trade Organization (WTO) complaint against the U.S. amid the ongoing tariff situation.
Wheat remains higher at midday on support from low soil moisture levels in Ukraine and limited precipitation for the U.S. Plains states.
Weekly wheat export sales came in at 18 mb, which was in line with expectations. Year-to-date commitments total 683 mb, up 8% from a year ago.
A lower dollar index over the past three days has also helped to support wheat prices at midday.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
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