Grains were mixed overnight with soybeans in the red and wheat in the black. Corn was unchanged heading into the morning break. In outside markets the USD was higher after being beaten down early in the week.
The weather continues to point to heavy rains thru the next week in the Plains and Western Cornbelt. Major corn growing regions in the West could receive a total of more than 4-7 inches of rain by May 10, well above average levels. Rain is also expected to fall on most days, giving wet fields little time to dry out before another round arrives.
In international news, Taiwan's feed industry procurement association, MFIG, purchased about 65,000 MT of corn likely to be sourced from Brazil in an international tender which closed on Wednesday. Tunisia's state grains agency purchased around 67,000 MT of soft milling wheat to be sourced from optional origins in an international tender which closed on Wednesday.
Ukraine boosted its grain exports to 4.54 MMT in March up 52% from 2.98 MMT in February thanks to record sales of maize, analyst UkrAgroConsult said on Wednesday. The corn shipments jumped to 3.1 MMT in March, the highest so far for the 2016/2017 marketing year that runs from July to June, from 1.8 MMT in February.
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