NOTE: CBOT July grain and soy contracts expire on Friday.
WHEAT - Down 10 to 12 cents per bushel
Lower on technical selling and follow-through weakness one day after the US Department of Agriculture raised its forecasts of global ending stocks for 2016/17 above a range of trade expectations.
The USDA reported export sales of US wheat in the latest week at 357,700 tonnes, in line with trade expectations for 300,000 to 500,000 tonnes.
The CME Group reported 69 CBOT wheat deliveries and 11 K.C. wheat deliveries against July futures contracts, which expire on Friday. The MGEX reported no July spring wheat deliveries.
CBOT September soft red winter wheat was last down 12-3/4 cents at $5.24-1/4 per bushel; K.C. September hard red winter wheat down 13-1/2 cents at $5.50-1/2; MGEX September spring wheat last down 6-3/4 cents at $7.76.
CORN - Down 6 to 7 cents per bushel
Lower on updated forecasts for milder weather in the US Midwest next week, and follow-through selling a day after the USDA raised its US old- and new-crop corn ending stocks forecasts above an average of trade expectations.
CBOT December corn dipped to $3.90-3/4, its lowest since June 30, ahead of the break in trade.
The USDA reported export sales of US corn in the latest week at 440,700 tonnes (old- and new-crop years combined), in line with trade expectations for 350,000 to 700,000 tonnes.
The CBOT reported 284 deliveries against CBOT July corn futures.
CBOT September corn was last down 7-1/4 cents at $3.78-1/4 per bushel, with new-crop December down 7 cents at $3.91-3/4.
SOYBEANS - Down 22 to 24 cents per bushel
Lower on technical selling and updated forecasts calling for cooler temperatures in the US Midwest next week, following heavier-than-expected rains this week in Iowa and Illinois, the top US soybean producers. The CBOT August soybean contract fell below its 200-day moving average near $10.02 in early moves.
The USDA reported export sales of US soybeans in the latest week at 683,000 tonnes (old- and new-crop years combined), above trade expectations for 250,000 to 600,000 tonnes.
The CBOT reported 88 soybean deliveries against CBOT July futures, along with 52 soymeal deliveries and 43 soyoil deliveries.
Malaysian September palm oil futures fell 0.93 percent.
CBOT August soybeans were last down 23-1/4 cents at $9.97-1/2 per bushel; new-crop November down 24-1/2 cents at $10.09-1/2.