US grain futures had no choice but to follow the outside markets lower. There were losses in corn, soybeans and soft wheat contracts at Chicago. HRW futures and spring wheat hung on a little better but still finished in the red. Weather across the USA and much of Europe and the Black Sea states is not threatening production.
Weekly US corn sales were solid at 1.47mt, a number that would normally support the market. The bargain hunters seem to be fairly active in the cash market. Japan was a major buyer of US corn last week. US soybeans sales were unimpressive and done nothing to help the selloff in the bean pit. With just 568kt of bean sales, 21% below the four week average, the US export pace is suffering and they really need to see some big Chinese orders in the near term. Weekly US wheat sales came in right in the middle of the trade guess with 479kt of sales last week. This was not enough to fend off outside pressure in soft wheat.

Algeria is said to have picked up 660kt of French wheat overnight at about US$227 CFR. This is about US$9.00 lower than their last purchase and takes their yearly purchases to about 5.3mt, 30% higher than official estimates earlier in the year.
Japan are tendering for 110kt of wheat. The tender will be made up of mostly US wheat but Australia has been asked to offer for 33.5kt of ASW. Cash offers out of Australia firmed a couple of dollars yesterday but around the world offer values for wheat were generally a couple of dollars softer.