U.S. government forecasters signal La Niña has ended, but the extended weather forecast from the National Weather Service continues to indicate La Niña-like weather will persist through June.
Corn should be supported by strong weekly export sales and another daily sale to China.
Corn futures pivoted around unchanged in quiet overnight trade while soybeans were supported by corrective buying and wheat pulled back from gains earlier this week.
Soybean basis dropped but the average cash price remained above $15.
Corn and wheat are expected to open with a mildly firmer tone, though outside markets are price-negative. Soybeans are called lower.
After trading higher earlier in the overnight session, corn, soybeans and wheat have turned mostly lower early this morning.
Grain and soy futures are expected to open lower after pressure during overnight trade. Corn could get a boost from daily export sales to China.
Corn and soybeans faced followthrough selling overnight, while the wheat market pulled back from Monday’s corrective gains.
Corn and soybeans opened the week under light pressure with wheat higher. Cattle futures are lower with lean hog futures narrowly mixed...
Grain and soy markets are expected to open under pressure amid broader risk aversion.

Brian Grete