WHEAT - Down 1 to 3 cents per bushel
Headed lower for a second session on profit-taking after the most actively trade CBOT wheat contract on Wednesday reached its highest level in two years. But CBOT wheat pared losses and MGEX spring wheat turned sharply higher ahead of the break in trade on forecasts for more hot, dry weather in spring wheat areas of the northern Plains.
The US Department of Agriculture (USDA) reported export sales of US wheat in the latest week at 375,300 tonnes, in line with trade expectations for 300,000 to 500,000 tonnes.
The CBOT reported 168 July wheat deliveries and 350 deliveries of K.C. hard red winter wheat. The MGEX reported 23 July spring wheat deliveries.
CBOT September soft red winter wheat was last down 1-3/4 cents at $5.37-1/4 per bushel; K.C. September hard red winter wheat down 3-3/4 cents at $5.42-3/4; MGEX September spring wheat last up 20 cents at $7.89.
CORN - Up 2 to 3 cents per bushel
Turned higher after a weaker start on updated forecasts for hotter temperatures in the western US Midwest and uncertainty about much-needed rains in the region as the corn crop enters its key pollination phase.
The USDA reported export sales of US corn in the latest week at 214,700 tonnes (old and new marketing years combined), below a range of trade expectations for 350,000 to 750,000 tonnes.
Through its daily reporting system, the USDA said private exporters sold 143,000 tonnes of US corn to Mexico, including 11,000 tonnes for 2016/17 delivery and 132,000 tonnes for 2017/18.
The CBOT reported 967 deliveries against CBOT July corn futures.
CBOT September corn last up 2-3/4 cents at $3.93-1/4 per bushel.
SOYBEANS - Up 3 to 4 cents per bushel
Turned higher after a mixed start, supported by forecasts for potentially stressful hot weather in the western Midwest and the Dakotas. New-crop November soybeans reached $10.04 a bushel, the contract's highest level since mid-March.
The USDA reported export sales of US soybeans in the latest week at 438,700 tonnes (old and new marketing years combined), in line with trade expectations for 250,000 to 650,000 tonnes.
The USDA reported weekly soymeal sales of 80,200 tonnes (old and new crop years combined), at the low end of trade expectations.
The USDA reported weekly soyoil export sales at 6,600 tonnes (all for 2016/17), below trade expectations.
The CBOT reported 829 deliveries against CBOT July soybean futures, along with 195 soymeal deliveries and 65 July soyoil deliveries.
Malaysian September palm oil futures fell 0.27 percent, pressured by declines in CBOT soyoil.
CBOT August soybeans last up 3-1/4 cents at $9.89 per bushel; new-crop November up 3-1/2 cents at $10.02-3/4.