US: Corn down, soybeans and wheat mixed ahead of USDA reports

Soybeans were mixed on bull spreading. Beans were watching the weather while getting ready for Friday’s planted area and quarterly stocks numbers. Those reports are out at Noon Eastern/11 Central. Weather-wise, even if the critical month for beans is August, soil moisture improvements are definitely welcome, but that has some with high winds and hail in parts of the region, causing at least some damage. Old and new crop weekly export sales numbers were bearish. The top old crop buyers were Mexico and unknown destinations, while the leader for new crop was Mexico with a net cancellation by China, but those sales were minimal. Brazil continues to hold most of the global market share due to a price advantage. Soybean meal was up on an oversold bounce, while bean oil was mixed on bull spreading. Minimal first notice day deliveries are expected on July soybeans Friday.Corn was lower on fund and technical selling. Corn was watching the weather, with rain in some of the drier areas of ...