Heavy pressure on the wheat market pulled corn lower overnight, while soybeans posted two-sided trade.
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Corn, soybean and wheat futures extended price losses from earlier in the week duringovernight trade.
There was a major expansion of drought across the Northern Plains, while drought conditions intensified in the Central Plains.
Hot, dry conditions during fall should facilitate rapid harvest of corn and soybeans but is concerning for the HRW crop that’s being planted into dry soils.
Corn and soybeans mildly rebounded overnight from losses the two previous days, while wheat pulled back from recent gains.
Corn and soybean basis continues seasonal decline as harvest increases.
Soybeans and wheat favored the upside is quiet, two-sided trade overnight, while corn faced light selling pressure.
Soybean futures built on Monday’s strong gains overnight, while wheat rebounded from yesterday’s losses and corn favored the upside is light, two-sided trade.
CCI ratings have declined for nine straight weeks for corn and six consecutive weeks for soybeans.

Brian Grete