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Grains In Positive Territory Overnight

Crude Oil up in Morning Trade

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Grains were in positive territory overnight as they continue to seesaw back and forth around long-term prices of the past 3 months. In outside markets, the US dollar was finally weaker after hitting a 13-year high yesterday and crude oil was up in morning trade.

USDA reported a 106,200 MT of corn were sold to unknown destinations.

EU farmers are expected to sow 24.3 million hectares of soft wheat for next year's harvest, little changed from 24.2 million in 2016, consultancy Strategie Grains said on Thursday. For the 2016 crop, they shaved the corn estimate from 59.8 MMT to 59.6, and the wheat crop estimate from 135.9 to 135.7.

South Korea's largest animal feed maker Nonghyup Feed Inc. (NOFI) purchased 68,000 tonnes of yellow corn to be sourced from optional origins

Japan bought 136,000 MT of which 101,000 MT was sourced from US origins and the rest from Canada.


Actual Expected

Corn 1,661 900-1,200

Soybeans 1,418 1,200-1,500

Wheat 598 400-600

Weekly USDA export sales were above expectations for corn and at the high end of expectations for soybeans and wheat.

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