Grains went into the morning break slightly lower after a night of two-sided trade. Corn and wheat were off 2 while soybeans was off a half.
USDA announced the sale of 261,000 MT Of soybeans to China and 126,000 MT to unknown destinations.
Russian wheat export prices rose for a second consecutive week due to higher global benchmarks and the strengthening of the rouble against the dollar, analysts said on Monday. Black Sea prices for Russian wheat with 12.5 percent protein content and September delivery were at $185 a tonne on a free-on-board (FOB) basis at the end of last week, up $2 from the week earlier, agriculture consultancy IKAR said.
Argentina's 2017/18 soybean harvest is expected to fall by as much as 7 percent to 52 million tonnes compared with the 2016/17 crop year, local agriculture analysts said on Friday, citing low profit margins and excess water caused by heavy rains.
Friday saw NOPA soy crush estimates better than expected with 142.42 MB of soybeans crushed in August. This was the largest crush on record for August and beat expectations that averaged 137.5 with range of estimates from 133.1 to 144.7.
The risk of trading futures, hedging, and speculating can be substantial. Grain Hedge is a Branch of Foremost Trading LLC (NFA ID: 0307930)
