Grains are mixed at midday:
May Corn +20 ¼ cents/bu (7.53 ¼ )
May Soybeans + 22 cents/bu (16.93 ¾ )
May Chi Wheat – 85 ½ cents/bu (11.16)
Cdn $ +0.00365 (78.305 cents)
WTI Crude Oil +12/barrel (108.82)
Corn and soybean futures continue to show solid gains on Thursday, while wheat futures continue to struggle as speculators exit their long positions in the market.
This morning, the USDA released their Weekly Export Sales Report for the week ended Thursday, March 3rd, and sales of corn and soybeans were far in excess of what the trade was anticipating, with a marketing year high for old crop corn. China, Unknown Destination, and Egypt were the biggest buyers of old crop soybeans, while China was the biggest buyer of new crop beans as well.
