Weekly corn and soybean export sales were up from the previous week with the old- and new-crop soybean sales better than expected.
USDA's weekly export sales report also said that sales of nearly 2.1 million bushels 2014/2015 wheat were carried over from the 2014/2015 crop year, which ended May 31.
Old-crop corn sales of 19.5 million bushels were up 7% from a week earlier and within the trade forecasts collected by Reuters. South Korea, Japan and Peru were the leading buyers. New-crop business of 4.55 million also matched forecasts with Mexico and unknown destinations the top markets.
Old-crop soybean sales of nearly 6.0 million bushels were up 26% from the week before and beat forecasts, with Mexico, Bangladesh and Switzerland the leading buyers. New-crop business of about 14.3 million was better than expected with unknown destinations, Mexico and Panama the leading buyers.
In wheat, current-year sales totaled 13.8 million bushels and were led by Nigeria, unknown destinations, and China.
Chicago grain and soybean futures barely moved after the export report. At the end of the overnight session, July corn was down 1-3/4 cents a bushel, July soybeans were off 4 cents. In wheat, Chicago's July SRW wheat was down 5-1/2, Kansas City's HRW for July was off 4 and Minneapolis spring wheat for July was off 1-3/4.
USDA reported soymeal export sales of 129,700 metric tons for the 2014/2015 crop year, up from the previous week and beat forecasts by a small margin. Morocco, Venezuela, and Egypt were the top buyers. New-crop sales totaled 49,900 tons and were led by Mexico and Panama.
Sorghum business was a net reduction of 19,685 bushels.