The US Department of Agriculture reported export inspections of US corn in the latest week at 1,544,460 tonnes, in line with trade expectations for 1.2 million to 1.8 million tonnes.
Brazilian farmers harvested an estimated 35% of the country's soybean acreage through last Thursday, down from 49% a year ago and the slowest pace in a decade, agribusiness consultancy AgRural said.
Soymeal crushing remains strong, one mid-south dealer said, driving strong demand for soybean sales across the US Midwest, though most domestic meal buyers have made purchases to last through the end of March.
Chicago Board of Trade March soymeal futures were up $2.20 at $422.20 a ton. The May contract was $2.30 higher at $420.50 a ton.
The USDA only minimally trimmed its US end-of-season stocks outlook and raised its export forecast by less than many traders had anticipated following record-large sales to China.