Grains found strength overnight with soybeans leading the complex higher while corn and wheat followed with more subdued gains. In outside markets, equity futures were higher while crude oil and the US dollar were mostly steady.
Producers in isolated parts of Brazil's main grain state of Mato Grosso started harvesting the winter corn crop earlier than expected to take advantage of near record prices, as the drought that has curtailed yields also accelerated the crop's maturation. Reports of winter corn harvesting are still isolated in the center-west state of Mato Grosso, according to agronomists on the Rally da Safra crop tour.
French farmers had sown 91% of their corn crop, up from 78% but lagging the 96% progress seen a year ago, farm office FranceAgriMer said on Friday. Corn planting has been slowed by wet, cool weather during much of spring so far and FranceAgriMer said the average sowing date was 15 days later than the average of the past five years.
South Korea's KOCOPIA rejected all offers and made no purchase in a tender for 55,000 MT of corn which closed on Friday, European traders said. Prices were regarded as too high, they said. Lowest offer was $198.60 a tonne c&f including surcharge for additional port unloading, they said.
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