Export inspection data report shows that US corn shipments slowed to nearly 820,000 tons for the week ending June 27, a 29% decrease from the previous week. Japan was the leading destination for these shipments, followed by Mexico and Taiwan.

USDA data reported nearly 454 million bushels of corn used for ethanol production in May, up more than 7% from the previous month's adjusted figure and up more than 3% year-on-year.

Brazil's AgRural estimated that 49% of the country's second corn crop in the central-south region has been harvested, the fastest pace since the organization began weekly tracking in 2013. StoneX estimated Brazil's total corn production at 121.18 million tons, down from the previous estimate of 121.75 million tons.

September corn futures continued to decline in the early week session, with the settlement price on July 1 at 407 cents per bushel, down 0.12% from the previous weekend.

For soybeans, more than 303,000 tons of US soybeans were shipped in the past week, a decrease of over 13% from the previous week. Egypt was the top destination, followed by Germany.

In May, soybean oil crush production was nearly 192 million bushels, lower than the average estimate of 193.85 million bushels, up more than 8% from April and up nearly 3% year-on-year. Total soybean oil stocks reached nearly 2.2 billion pounds, down 5.4% from the previous month.

September soybean futures rose in the early week session, with the settlement price on July 1 at 1,107.5 cents per bushel, up 0.68% from the previous weekend.

Data recorded nearly 310,000 tons of wheat shipped for the week ending June 27, a nearly 10% decrease from the previous week and 9.5% lower year-on-year. Indonesia was the top destination.

Saudi Arabia recently purchased 235,000 tons of wheat in a tender, initially seeking 595,000 tons.

September wheat futures saw a strong rebound, with the settlement price on July 1 at 590.25 cents per bushel, up nearly 3% from the previous weekend.