Corn and soybean futures were lower today, and wheat futures were in the green. Much of the trade is factoring in US trendline yield (due to the current weather forecast) and not strong export demand for new crop, specifically for soybeans. New crop export sales have started to pick up, maybe and the downward slide in futures is attracting buyers, that is the market's job! US weekly export sales for old crop was higher then estimated for soybeans at 13.83 mil bu, up from 3.26 last week. Corn was below estimate at 6.61 mil bu, and below last week at 13.05. Wheat export sales were the low end of the estimates at 10.53, similar to last week at 11.37. An US export sale for new crop soybeans was announced this morning, 132,000mt to China. |