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Grains Find Modest Strength in the Overnight

Equities, Crude and the US Dollar were Lower

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Corn purp

Grains found modest support overnight trying to recover from the steep losses accumulated over the past three trade sessions. In outside markets, equities were lower as was crude oil and the US dollar.

Current weather models continue to point to a return to normal temperatures after today and Friday’s heat wave thru the Midwest. The latest model shows heavier precip mid next week versus the model 24 hours ago.

In overnight news, Japan bought 165,048 MT in a regular wheat tender. Most of that or 99,473 MT was with the US, while the remainder was to Canada and Australia. South Korea’s state-run Korea Agro-Fisheries & Food Trade Corp. has purchased 20,000 tonnes of soybeans to be sourced from the United States and Canada in an international tender which took place on Thursday, European traders said.

Oil prices rose as much as 1 percent on Wednesday, lifting U.S. crude from two-month lows, after the U.S. government reported a ninth straight week of crude inventory draws, easing some concerns in a market worried about a glut. U.S. gasoline prices, however, hit four-month lows after the data from the U.S. Energy Information Administration also showed a surprise build in supplies of the motor fuel despite forecasts of American drivers hitting the road in record numbers this summer.


OC-Act OC-Exp NC-Act NC-Exp

Corn 345 400-600 506 500-700

Soybeans 325 300-500 1,001 500-700

Wheat 478 350-550

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