Soybeans led strength overnight, corn traded in a narrow range overnight and wheat futures were widely mixed, with SRW leading to the downside and HRS leading to the upside.
Corn futures fell to fresh contract lows overnight, dragging wheat lower as well. Soybeans fell to contract lows though saw corrective buying into the break.
Corn and soybeans gave up early corrective gains overnight, though wheat holds onto marginal gains. Weak export sales across the board helped spur selling pressure this morning.
Net soybean sales during the week ended Feb. 15 were down 84% from the previous week, while weekly corn and wheat sales were down 37% and 33%, respectively.
Corn and soybeans saw corrective buying most of the overnight session, though sellers resurfaced into the break. Wheat futures continue to fall under heavy selling pressure.
Selling persisted throughout the grain market overnight as corn, soybeans and wheat continue to trade on recent lows. Persistent impressive sales and falling projected acres did little to boost corn prices.
Weekly soymeal sales totaled 203,400 MT during the week ended Feb. 8, missing the pre-report range, while corn sales held steady at 1.31 MMT. Wheat and soybean sales were near the low-end of pre-report estimates.