The export inspection report shows that over 1.1 million tons of U.S. corn were shipped during the week ending June 20, double the amount from the same period last year but 19% lower than the previous week.

The COT report notes that speculators reduced their net short positions by 20,800 contracts, bringing the total to just over 191,000, as of the week ending June 18.

AgRural updated the progress of the second corn harvest in the Central-South region of Brazil, reaching 34% as of last Thursday, compared to 9% at the same time last year.

For the corn market on the commodity exchange: The September Corn Contract continued to decline at the start of the week, with the settlement price on June 24 at 439.5 cents/bushel, down 0.23% from the previous week's close.

For soybeans, the export inspection report indicates that 342,000 tons of soybeans were shipped during the week ending June 20, higher than the same period last year and slightly up from the previous week.

The COT report shows that fund managers increased their net short positions by over 30,000 contracts, bringing the total to nearly 106,000 contracts.

The September Soybean Contract saw a slight increase at the start of the week, with the settlement price on June 24 at 1,130.5 cents/bushel, up 0.98% from the previous week's close.

According to the export inspection report, nearly 343,000 tons of wheat were shipped during the week ending June 20, 67% higher than the same period last year but 16% lower than the previous week.

Last week, speculators increased their net short positions by nearly 8,000 contracts, bringing the total to nearly 53,000 contracts.

Argus has lowered its forecast for Russian wheat production to 79.5 million tons, the lowest among private estimates. Meanwhile, India has begun imposing wheat stock limits on retailers and processors to control prices and prevent hoarding. Previously, India was expected to either remove or reduce the 40% import duty on wheat, but no action has been taken so far.

The September Wheat Contract continues its downward trend. The settlement price on June 24 was 571 cents/bushel, down 0.83% from the previous day.