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Grains Gave Up Most of Yesterday's Gains in the Overnight

Crude Oil is Holding on to Modest Gains

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Grains gave up most of yesterday’s gains, pushing solidly into negative territory to start the day. In outside markets, equity indices were slightly lower while crude oil was trying to hold on to modest gains.

China will impose anti-subsidy duties of around 10% on imports of U.S. DDGs, the Commerce Ministry said in a preliminary ruling on Wednesday. The move was widely expected after the government announced a similar move on anti-dumping duties last week.

South Korea's Korea Corn Processing Industry Association (KOCPIA) has issued an international tender to purchase about 55,000 tonnes of optional-origin corn, European traders said on Wednesday.

This morning, USDA announced some big export deals. Export sales of 133,000 MT of soybeans for delivery to China and another 211,171 MT to Unknown for the 2016/2017 marketing year. For corn, there was a 1,577,340 MT deal to Mexico, with 1,036,320 MT for delivery during the 2016/2017 marketing year and 541,020 MT for delivery during the 2017/2018 marketing year.

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