Grains are expected to open mixed following the extended holiday weekend as traders sort out South American weather, outside markets and China’s surging Covid cases.
Grain and livestock markets will reopen at 8:30 a.m. CT following the extended holiday weekend. Outside markets were price-negative, with crude oil weaker and the U.S. dollar sharply higher overnight.
Soybean futures continued their price surge overnight with front-month futures reaching their highest level on the continuation chart since Sept. 13. Corn and wheat traded in narrow ranges on either side of unchanged.
Soybeans built on Tuesday’s gains overnight but failed to get near yesterday’s highs. Corn and wheat futures held in tight trading ranges in thin trade.
