Corn, soybeans and wheat recouped some of the losses from earlier this week during the overnight session.
USDA estimated drought covered 5% of corn production areas and 3% for soybeans as of May 28.
Wheat futures faced active followthrough selling overnight, while corn and soybeans favored the downside in two-sided trade.
Basis firmed for corn and soybeans as cash prices dropped.
Corn, soybeans and the winter wheat markets mildly favored the downside overnight.
HRW crop continues modest late-season improvement, while SRW crop is declining ahead of harvest.
Wheat futures are higher with soybeans under pressure and corn futures caught in the middle. Cattle futures are higher with lean hogs under pressure…
Wheat futures posted strong gains overnight coming off the extended holiday weekend amid ongoing Russian crop concerns. Corn followed to the upside, while soybeans slumped after a firmer start.
The decline in feedlot numbers was the first drop versus year-ago in eight months.
Beef stocks declined less than average during the month, while pork inventories built more than normal.

Brian Grete