News on Corn Market, a private export sale of nearly 210,000 tons of U.S. corn to Mexico was reported yesterday. Of this, over 22,000 tons are from the old crop, and nearly 188,000 tons are from the new crop.

The market will soon receive the USDA’s June corn planting report on Friday, with estimates ranging from 89 to 91.3 million acres.

Corn stocks data will also be released on Friday, with an expected U.S. corn inventory of 4.87 billion bushels as of June 1, up 770 million bushels from last year.

September Corn Contract fell sharply, with a settlement price of 431.75 cents/bushel on June 25, down 1.76% from the previous session.

Similarly, the soybean market is awaiting a USDA report estimating planting area at 86.75 million acres, with a range of 85.5 to 87.5 million acres.

For U.S. quarterly soybean stocks, 962 million bushels are expected at the end of Q3, up 166 million bushels from last year.

September Soybean Contract dropped significantly on Tuesday, with a settlement price of 1,111.75 cents/bushel on June 25, down 1.66% from the previous session.

The upcoming USDA report will also include wheat planting area estimates, projected at 47.66 million acres. This includes 34.19 million acres of winter wheat and 11.34 million acres of spring wheat.

A Reuters survey recorded expectations for U.S. quarterly wheat stocks at 684 million bushels, about 4 million bushels lower than the June supply and demand report estimate (which is also the U.S. end-of-period figure) but 134 million bushels higher than last year.

Egypt’s GASC purchased 470,000 tons of wheat in a tender on Tuesday, with 180,000 tons each from Russia and Romania. Algeria is also seeking to buy wheat, with the tender ending today (Wednesday).

September Wheat Contract fell, with a settlement price of 560.5 cents/bushel on June 25, down 1.84% from the previous session.