Brian Grete

There were “targeted improvements in the Southern Plains,” though none of that came in the major HRW wheat production states.
Supportive outside markets helped fuel a corrective rebound in grain and soy futures overnight.
Basis improves for both corn and soybeans despite Mississippi River shipping issues.
Specifically relating to agriculture, the Fed noted “reports were mixed, as drought conditions and high input costs remained a challenge.”
Soybean futures extended Tuesday’s losses overnight, while corn traded lower for a fourth straight day. Wheat futures rebounded from Tuesday’s losses.
Corn, soybean and wheat futures faced solid selling pressure overnight and are near their session lows this morning.
Wheat and soybean futures are firmer as corn trades on either side of unchanged. Live cattle futures are firmer with hog futures falling back from early gains.
Wheat futures traded higher to open the week amid global supply concerns, while soybeans softened and corn was caught in the middle.
Corn and wheat are expected to trade lower, with soybeans likely to favor the upside.
Markets reversed their price trends from Thursday in overnight trade, as corn and wheat pulled back while soybeans firmed.