Grains have continued their post-WASDE report rally on Thursday, fueled by crop damage worries from the early-week derecho & continued daily export sales of corn & soybeans.
Corn & beans ended slightly higher, but wheat mostly reversed Monday's losses on Tuedsay as traders positioned for Wednesday's 11 am release of USDA's monthly supply-demand revsions. Compared to July 10 WASDE data, pre-report estimates look for the farm agency to boost US corn, soybean & wheat yields & raise 2020/21 US carryover stocks as production again exceeds usage.
Corn & beans have rebounded, but wheat is lower on Monday as traders react to weather maps, daily & weekly export news ahead of Wednesday's WASDE data.
Corn ended Thurdsay's trading session mixed, soybeans closed slightly lower & wheat was again under significant pressure as traders position for USDA's Aug. 12 WASDE report.
Corn rebounded, beans reversed to the downside & wheat was mixed on Wednesday.
Grains plunged on Tuesday following steady/higher USDA weekly crop ratings & a record-high corn & soybean yield projections released by a private forecaster.
Corn & beans were higher, but wheat was sharply lower to start August.
Continuing overnight trends, corn is fractionally changed, & soybeans & wheat are slightly higher on Friday as late summer grain movement fills the supply pipeline & benign weather leads to high yield expectations that offset recently improved export demand.
Corn & beans were lower at noon on Wednesday, but wheat had reversed Tuesday's losses.
Corn was mixed & soybeans were slightly higher on Monday, but wheat dove lower as private estimates boosted the size of the Russian wheat crop. Soybeans & corn were solidly lower on Monday night, taking an ominous downward turn, after USDA's weekly crop ratings jumped 3% higher amid rapidly advancing crop conditions.