Corn futures advance as export inspections beat estimates

Grain futures posted solid follow-through buying across the board on Tuesday, led by new crop December Corn futures reaching their highest close since June 2 at 4'64'2. November Soybean futures also showed notable strength, settling at their highest level since mid-May at 11'97'6, while December Chicago Wheat futures ended the session 5.25 cents higher. The latest crop progress report offered a mixed picture, with corn conditions holding steady at 67% good to excellent, while soybean ratings slipped slightly to 64%. On the export front, weekly inspections delivered a "Goldilocks" scenario: corn shipments surged past expectations at 1.64 million metric tons, soybeans met estimates at 528,000 metric tons, and wheat inspections fell short at 134,000 metric tons.