Grains are mostly lower at midday:

Mar Corn + 2 ¾  cents/bu (6.05 )

Mar Soybeans – 5 ¼ cents/bu (13.89 ½ )

Mar Chi Wheat – 16 cents/bu (7.44 ¾ )

Cdn $ +0.00195 (78.59 cents)

WTI Crude Oil +1.29/barrel (79.14)

Grains have continued to be under pressure for most of the morning, but in the past hour, corn has shown some independent strength.  USDA Weekly Export Sales were very disappointing, and a small soybean sale to Mexico has not been enough to right the ship.  Earlier in the day session, corn was down as much as a nickel/bu, soybeans were down 25 cents/bu, and Chicago wheat was down 25 cents as well.

This morning’s USDA Weekly Export Sales Report saw corn, soybean, and wheat sales all fall below the lowest guess from the trade.  Corn and wheat sales were actually only half as big as the lowest trade estimate.  The weekly wheat and soybean sales were marketing year lows.  Of the modest soybean sales, China accounted for 354,000 tonnes, while Canada and Mexico were again the top buyers of corn.  Actual sales data is listed below, in thousands of tonnes:

This morning, the USDA did confirm the sale of 102,000 tonnes of soybeans to Mexico for the 2021/22 marketing year.