Corn futures are firmer, soybeans are weaker and wheat is mixed this morning following two-sided trade overnight.
The SRW CCI rating inched up but is still below average.
Grain and soy complex futures open the week under heavy pressure. Cattle futures are posting corrective gains with lean hogs moderately to sharply lower.
Bears took firm control of price action in the grain and soy markets amid risk aversion overnight as traders returned from the weekend.
Soybean futures gained more overnight than they lost on Thursday, making new highs for the week. Wheat and corn also firmed.
Old-crop corn futures posted new contract highs overnight, while December corn came with 1/2 cent of its high. Wheat was also firmer, while soybean were mixed.
Choice boxed beef prices extended their recent price decline over the past week.
Soybeans and soyoil extended gains overnight, while corn and wheat are trading lower this morning after two-sided overnight trade.
Corn and spring wheat futures extended Monday’s gains overnight amid planting delays concerns. Soybeans and winter wheat rebounded from Monday’s losses.
The sharp drop in HRW CCI rating was led by a 6.2-point deterioration in the Kansas crop and a nearly 3-point decline in Oklahoma.

Brian Grete