Data from the EIA yesterday recorded an increase in U.S. ethanol production by 34,000 barrels per day, reaching over 1 million barrels per day for the week ending June 14. Inventories also rose by 395,000 barrels to over 23.6 million barrels. The Buenos Aires Grain Exchange estimated that Argentina's corn planting progress has reached over 49%.

The price of the July Corn Futures Contract decreased, with the settlement price on June 20 at 439.75 cents per bushel, down 2.28% from the previous session.

Regarding the soybean market, soybean export sales data has been delayed until tonight due to the holiday, with expectations ranging from 375,000 to 850,000 tons for the week ending June 13. Additionally, China's soybean import data for May recorded 10.2 million tons, with the majority (8.8 million tons) coming from Brazil and 1.27 million tons from the U.S.

The price of the July Soybean Futures Contract dropped significantly, with the settlement price on June 20 at 1,135.75 cents per bushel, down 3.26% from the previous session.

The wheat planting progress report for Kansas shows above-average progress in the east and average levels in the central region. The export sales report to be released tonight is estimated to show that 200,000 to 500,000 tons of U.S. wheat have been sold. Meanwhile, IKAR has reduced its estimate for Russian wheat production to 82 million tons, compared to the USDA's estimate of 83 million tons.

The price of the July Wheat Futures Contract continued to decline, with the settlement price on June 20 at 572.75 cents per bushel, down 1.59% from the previous session.