The most active corn contract for July delivery rose 0.5 cents, or 0.08 percent, to settle at 5.89 U.S. dollars per bushel. July wheat gained 5.25 cents, or 0.82 percent, to settle at 6.45 dollars per bushel. July soybean climbed 0.25 cents, or 0.02 percent, to settle at 14.1775 dollars per bushel.
The U.S. Department of Agriculture (USDA) Crop and World Agricultural Supply and Demand Estimate (WASDE) report will come out next Friday. The Black Sea grain export corridor talks set for Friday.
Volatility stays the theme. Chicago-based research company AgResource is expecting a bearish May report for U.S. corn and soybean balance sheets.
For the week ending April 27, the United States sold 7.8 million bushels of wheat, 10.6 million bushels of soybeans and a negative 12.4 million bushels of corn. The corn cancellations should have been expected.
For respective crop years to date, the United States has sold 1,501 million bushels of corn, down 35 percent year on year; 1,863 million bushels of soybeans, down 13 percent; and 694 million bushels of wheat, down 2 percent.
For GASC tender, all Russian sellers initially offered Egypt's GASC wheat at 275 dollars per metric ton. However, after hearing other lower FOB offers, they dropped the FOB offer by 15 dollars per metric ton to 260 dollars.
It is drier across the western Plains and the Eastern Midwest. Nearby a series of storms will trek across the Central U.S. offering scattered showers or storms. The biggest weather concern is Canada, where a drying trend is ongoing and deepening.
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