Soybean and corn export inspections beat expectations.

Grain futures markets experienced choppy trade with Soybean futures leading the gains to the upside. Weekly export inspections started the week with strong momentum as both Corn futures and Soybean futures totals surpassed the top end of analyst expectations. Wheat futures remained the weak link in the complex, settling lower even as inspections arrived in line with estimates. In South America, excessive rainfall contributed to significant delays for Brazilian farmers. The second quarter corn crop planting pace and the soybean harvest both lagged behind last year's levels, marking the slowest progress seen in several years. Consequently, private analysts lowered their Brazilian soybean production estimates to account for the weather-related disruptions.