Grains were mixed overnight heading into the morning break. In outside markets, the US Dollar index eroded overnight while crude oil tried to bounce higher after sharp losses on Tuesday.
In Brazil, at least 11 ships are facing delays loading beans at some northern ports as rained out roads have stalled truck deliveries from Mato Grasso. Road work has begun to help the stalled truckers as several thousand trucks have reportedly been stranded on unpaved, rain damaged roads.
Growing conditions in Argentina's main soy belt were helped over the previous seven days by showers in areas that had suffered from a lack of ground moisture, the Buenos Aires Grains exchange said on Thursday in its weekly crop report. Rain in the central and southern agricultural area improved moisture levels in southeast Buenos Aires, where conditions had been overly dry during the last month the report said. The exchange kept its estimate for the recently planted 2016/17 soybean crop unchanged at 54.8 million tonnes.
Russia is considering exporting part of its 4 MMT state grain stockpile to free up storage space before the new crop arrives, industry sources said. Russia's storage capacity is buckling after the country harvested a record grain crop of 121 MMT in 2016, with prospects for this year also looking favorable.
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