Corn futures dip as exports beat while weather watch continues
Corn futures finished slightly lower after a strong weekly export inspection report of 1.66 million metric tons, with Mexico and Japan taking 45% of the total. Soybeans recovered, while wheat rose to 747'0.
Oliver Sloup of Blue Line Futures said grain markets were mixed after the holiday weekend, with corn futures ending slightly lower despite a strong weekly export inspection report. 66 million metric tons, above expectations, and Mexico and Japan accounted for 45% of the total. 5 cents to 1316'2 as traders tracked Midwest weather models calling for above-normal precipitation in the 6- to 10-day outlook. Wheat futures advanced to 747'0, while the 14-day average true range widened beyond 30 cents.