Grain futures saw a mixed session on Tuesday as traders digested new domestic planting data and international production estimates. While May Corn futures saw slight gains, Soybean futures faced pressure across the board following a robust Crop Progress report. U.S. soybean planting reached 6%, significantly outpacing the historical average of 2%. Meanwhile, Wheat futures emerged as the session leader, with Hard Red Winter Wheat contracts rallying nearly 20 cents. The market also reacted to updated figures from Conab, which increased production forecasts for both soybeans and corn in Brazil. Domestically, the U.S. corn crop reached 5% planted, hitting the lower end of analyst expectations, while Winter Wheat condition ratings saw a slight decline to 34% good-to-excellent.
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