Wheat up 7-9 cents, corn up 4-5 cents, soybeans up 4-5 cents
The following are U.S. expectations for the resumption of grain and soy complex trading on Thursday:
WHEAT - Up 7 to 9 cents per bushel
Wheat futures bounced back from multi-year lows after a weeks-long selloff.
Northern Hemisphere wheat harvests have been flooding the market with new-crop grain. Export competition is strong and demand not large enough to support prices.
Recent rainfall has boosted the outlook for harvests in Canada, Australia and Argentina, traders said, and Russian harvests have been reaching ports despite earlier concerns about the impact of drought in some regions.
The USDA reported weekly net export sales of wheat in the week ended July 31 totaling 737,800 metric tons.
CBOT September soft red winter wheat (WU25) was last up 8-1/2 cents at $5.17 per bushel. K.C. September hard red winter wheat (KWU25) was last up 7-1/2 cents at $5.19 per bushel. Minneapolis September wheat (MWEU25) was last up 2-3/4 cents at $5.71-3/4 a bushel.
CORN - Up 4 to 5 cents per bushel
Corn futures rebounded from Wednesday's contract lows, which were reached as ample global supplies weighed on markets.
The U.S. Department of Agriculture reported total weekly net export sales of corn in the week ended July 31 at 3,333,600 metric tons.
The U.S. is expected to produce bumper corn harvests later in the year. Analysts polled by Reuters think the U.S. Department of Agriculture will raise its estimates in a monthly report due on August 12.
CBOT December corn (CU25) was last up 4-3/4 cents to $4.06 per bushel.
SOYBEANS - Up 4 to 5 cents per bushel
Soybean futures moved up after easing earlier in the week, with Brazil's soybean area expanding at a slower pace than recent years.
Brazil's soybean area is set to expand in 2025/26 at its slowest pace in almost two decades, agribusiness consultancy Patria AgroNegocios said on Thursday, estimating the planted area in the season at 48.13 million hectares (118.9 million acres).
China's imports of soybeans and crude oil rose in July from a year earlier, customs data showed.
The U.S. Department of Agriculture reported total weekly net export sales of soybeans in the week ended July 31 at 1,012,800 metric tons.
CBOT November soybeans (SX25) were last up 4-1/2 cents at $9.98 per bushel.
