Wheat futures gained as corn and soybeans retreated
Wheat futures advanced as December Chicago Wheat gained 9'2 to settle at 659'6, leading the grain complex while corn and soybean futures retreated after early-week highs. USDA Crop Progress data showed good-to-excellent ratings at 68% for corn and 65% for soybeans, both reflecting a 1% weekly improvement. Meanwhile, weekly export inspections for corn reached 1.54 million metric tons, near the upper end of estimates and up 25% year-over-year, while soybean and wheat inspections met expectations.
Wheat futures advanced as December Chicago Wheat gained 9'2 to settle at 659'6, leading the grain complex while corn and soybean futures retreated after early-week highs.
USDA Crop Progress data showed good-to-excellent ratings at 68% for corn and 65% for soybeans, both reflecting a 1% weekly improvement.
Meanwhile, weekly export inspections for corn reached 1.54 million metric tons, near the upper end of estimates and up 25% year-over-year, while soybean and wheat inspections met expectations.