Corn is slightly lower, & beans & wheat were mixed on Wednesday as traders positioned for Thursday's USDA supply-demand revisions.
Grains are under pressure on Tuesday from Weekly Crop Progress data ath showed timely planting & improved crop ratings. Positioning for Thursday's USDA supply-demand revisions & weakness in outside markets are also adding downward momentum.
Corn & beans have extended Thursday's rally, but wheat have largely given back yesterday's gains as hot weather is tempered by demand uncertainty.
Soybeans & wheat rallied on export hopes & corn closed fractionally mixed on Wednesday as ethanol output & usage continue to rebound from their mid-April trough.
Corn was slightly higher, beans were solidly higher & wheat was under pressure on Tuesday after China bought US beans & wheat export competition appeared stiff. Traders mostly shrugged off solid weekly crop condition ratings as hotter than normal temperature forecasts encouraged caution.
After trading soldily lower overnight on increased US-China trade tensions, soybeans have pulled corn & wheat off their lows in early trading on Monday morning.
Soybeans led corn higher on Tuesday, but wheat prices lagged as exports continued to disappoint.
Soybeans tumble to bottom-range losses on worries about Chinese demand, corn settles with modest mid-range losses, & wheat trims early gains on Thursday as trading remains choppy & range-bound.
Corn was lower, but soybeans & wheat higher on Wednesday morning in continued choppy, range-bound trading.
Corn & beans followed rising crude oil prices to start the week higher, but wheat lagged behind as large global supplies weighed on sentiment.