Corn and wheat futures were supported by followthrough buying overnight after strong gains on Tuesday, while the soybean market extended yesterday’s declines.
Grain and soybean futures are expected to trade higher amid corrective buying following Monday’s sharp losses.
Corn, soybean and wheat futures recouped a portion of Monday’s sharp price losses during the overnight session.
Grain and soy futures open the week under pressure with fat cattle futures lower and feeders higher on the dip in corn prices. Lean hogs are lower this morning...
Soybeans will lead grain and soy markets lower on pressure from beneficial rains across Argentina late last week and during the weekend.
Soybeans led overnight price declines amid improved weather in Argentina, while corn and wheat followed to the downside.
From an underlying standpoint, the data is bullish as feedlot supplies declined from year-ago for a fourth straight month.
AgResource sampled fields across Mato Grosso, Brazil, this week, confirming “impressive crop potential” in the country’s top producing state.
Grain and soybean futures are expected to open with a mostly weaker tone this morning, though supportive export demand data could trigger buyer interest.
Corn and winter wheat futures extended losses from the two previous days overnight, while soybeans turned mixed this morning after facing pressure earlier in the session.

Brian Grete