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Corn ekes out a gain while wheat hits new lows

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Soybeans were modestly lower on fund and technical selling. Weather continues to look mostly favorable in South America, with rain in the near-term forecast for many areas. The USDA’s new estimates for South American soybean production are out Friday, with CONAB’s updated outlook for Brazil on the 12th. No significant adjustments are expected for the U.S. in this round of numbers, so most of the spotlight will fall on what the USDA decides to do with Brazil’s soybean, and corn, production guesses.

Corn ekes out a gain while wheat hits new lows