Corn futures recover from lows as export sales beat estimates.

Oliver Sloup from Blue Line Futures breaks down the latest movements in the agricultural markets, starting with a look at Corn futures. After hitting new contract lows early in the Friday session, corn managed to recover and post a positive close, aided by strong export sales for both old and new crops. The new crop sales significantly exceeded estimates at 927,000 metric tons. Sloup also discusses the choppy, two-sided trade seen in Soybean futures and Wheat futures. Wheat exports also stood out, surpassing the top end of expectations with 666,000 metric tons sold. Finally, the analysis covers the changing weather patterns in the U.S. grain belt. Recent rainfall has improved soil moisture levels and eased drought conditions, with forecasts predicting continued above-normal precipitation and cooler temperatures across the Midwest over the next 6 to 10 days.