Soybean futures posted double-digit gains overnight while corn traded slightly higher and the wheat market was mixed.
Corn and soybean futures are mildly firmer with wheat mixed. Livestock futures are choppy and mostly lower to start the week...
Soybeans and wheat were mildly firmer in overnight trade, while corn traded narrowly on either side of unchanged.
Winter wheat futures led a round of followthrough selling in overnight trade, while corn and soybeans faced lighter pressure.
Drought covers 80% of the U.S., with 74% of U.S. winter wheat area impacted.
Soybean futures led price declines overnight as the market pulled back from strong gains earlier this week. Corn and wheat faced mild selling pressure overnight.
Soybean basis and the average cash price both rose.
District agricultural conditions were mixed, though mostly strong.
Soybean futures pushed to their highest levels since September overnight, while corn and wheat were supported by end-of-the-month corrective buying.
The CCI ratings for HRW and SRW are both well below the respective five-year averages.

Brian Grete