EIA Report Records Ethanol Production Down by 10,000 Barrels per Day as of the Week Ending July 5, to Just Over 1 Million Barrels per Day. Inventories were higher by 9,000 barrels, reaching over 23 million barrels.

Old crop corn sales for the week ending July 4 ranged from 300,000 to 850,000 tons. New crop sales are estimated to be from 0 to 500,000 tons.

Brazil's corn production is expected to stabilize or decline, averaging 121.3 million tons, down from the June estimate, according to a Bloomberg survey. Argentina's production is estimated at 51.3 million tons, down 1.7 million tons from the previous estimate.

September Corn Futures prices continued to rise slightly. The settlement price on July 10 was 395.75 cents per bushel, up 0.44% from the previous session.

For Soybeans, The USDA reported a private export sale of 132,000 tons of new crop soybeans to China, marking the first sale to China for the 2024/25 marketing year so far this year.

Old crop export sales are estimated to be from 200,000 to 600,000 tons for the 2023/24 marketing year last week, with new crop sales ranging from 50,000 to 300,000 tons. Soybean meal sales are estimated to be between 200,000 and 600,000 tons, and soybean oil sales from 4,000 to 20,000 tons.

According to production estimates from a Bloomberg survey, Argentina's soybean production will remain unchanged at 50 million tons ahead of the USDA's monthly report. Brazil's production is expected to decrease by 1.3 million tons to 151.7 million tons.

September Soybean Futures prices have seen three consecutive declines. The settlement price on July 10 was 1,063.75 cents per bushel, down more than 1% from the previous session.

For Wheat, US export sales last week are expected to be from 300,000 to 700,000 tons, extending two weeks of strong orders, with more than 805,000 tons the previous week. Additionally, South Korean importers purchased 90,000 tons of wheat from the US and Canada, with at least 50,000 tons from the US.

September Wheat Futures prices reversed and fell. The settlement price on July 10 was 561.5 cents per bushel, down nearly 2% from the previous session.