Corn gave back the gains from Tuesday, closing about 2 cents lower Wednesday. It was another quiet day as traders seem to be "marking time" waiting for the USDA stocks report Friday at 11. There was a huge daily corn sale announced by the USDA on Wednesday. Mexico bought 1,036,320 MT for the 2016-17 marketing year and an unknown buyer purchased another 541,020 MT for the 2017-18 marketing year. This was the fourth-largest daily corn sale on record. However, with harvest ramping up traders did not pay much attention to this corn sale.

Beans were weaker, too, Wednesday, closing on the lows of the day down 6-7 cents a bushel. There was a lot of talk about great yields and harvest pressure that had beans on the defensive. The USDA announced China bought 133,000 MT of beans and an unknown buyer purchased another 211,171,MT. Both of those sales were for the current marketing year. I have not seen any average trade guess yet for the stocks report Friday for corn or beans.

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