In overnight trading, the July corn futures contract traded 1 cent lower at $6.19 per bushel. July soybean futures traded 11 1/4 cents higher at $14.33 1/4 per bushel, and July wheat traded 1 3/4 cents higher at $6.40 1/2. For July soybean meal futures, the contract traded $4.90 per short ton higher at $429.90. July soybean oil futures traded $0.09 higher at $50.52.
The outside markets are unfavorable for Thursday's grain trade. The real factors driving the calls will be the mixed overnight markets.
USDA releases mild-to-weak Weekly Export Sales for corn and soybeans Thursday.
Weekly corn sales were estimated at 865,100 mt of sales vs. the trade's expectation of 800,000-1.4 million metric tons.
Soybean export sales were recorded at 663,400 mt of sales vs. the trade's expectation of 1.1 million-to-1.6 mmt.
Wheat exports totaled 711,400mt vs. the trade's expectation of between 400,000-800,000 mt.
