An analysis of the grain markets following May options expiration reveals shifting volume to July contracts and mixed price action. July Corn futures maintained a second consecutive week of higher closes, despite minimal daily movement. Conversely, July Soybean futures experienced slight daily gains but posted minor weekly losses. Wheat futures dominated market activity, with the May Chicago contract rallying 18 cents to settle at 617'2.
In export data, corn sales met expectations at 1.32 million metric tons, while soybean net sales surged 47% week-over-week to 365,000 metric tons. Wheat net sales also saw a 29% weekly increase. As U.S. producers accelerate corn and soybean planting, market attention turns to upcoming weather patterns, specifically a 6- to 10-day forecast predicting cooler temperatures and near-normal precipitation across the Midwest.