Soybean futures rebounded after three consecutive lower sessions, supported by the largest monthly volume of export sales. July soybean futures rose to 1201'4, despite ending stocks remaining 16% above the five-year average. Corn futures also firmed to post seasonal highs on an export sales surge of 71% for this time of year, with the July contract closing at 467'6 alongside an uptick in crude oil. Conversely, Wheat futures faced downward pressure, extending to a new weekly low as July wheat settled down at 643'0. The decline in wheat was driven by export shipments falling below USDA estimates and forecasted rain in drought-stricken production regions, prompting options traders to shift from calls to puts.
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