CORN

• 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

• 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

• 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.

Author

Tanner Wilson