Grains were mildly weaker in overnight trade, while the US dollar surged to a one-week high.
USDA reports a 128,000 MT sale of corn to Japan.
Monday saw good export inspections but did little to lift corn and wheat prices. Wheat exports were 618,235 vs trade expectations ranging from 200-400,000 MT while corn had an impressive week of 1,113,212 as compared to 700-1,000,000 MT expected by the trade. Soybean exports also posted a solid week with 1,635,714 exported as compared to 900-1,200,000 MT expected.
In overnight news, South Korea's Major Feedmill Group (MFG) purchased about 55,000 tonnes of soymeal to be sourced from South America in a deal on Friday. An Ethiopian government tender to buy 400,000 tonnes of wheat which closed on Tuesday received a lowest offer of $219.68 per tonne c&f for the May shipment consignment, with the lowest offer from the Black Sea region. Japan's Ministry of Agriculture is seeking to buy a total of 111,522 tonnes of food quality wheat from the United States, Canada and Australia in a regular tender that will close late on Thursday.
The Euro had its biggest decline of 2017 sending the US dollar higher. The single currency shed 0.8 percent EUR=EBS against the dollar, with investors fearing far-right, eurosceptic candidate Marine Le Pen was gaining momentum before France's presidential election on May 7.
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