Soybeans pulled back from recent gains overnight, while corn and wheat traded on both sides of unchanged.
Wheat basis held relatively steady despite the big jump in cash prices.
Frozen beef stocks declined more than average during March, signaling demand remains strong. Pork inventories built contra-seasonally last month.
Grain futures mildly pulled back from recent corrective gains during the overnight session.
Wheat futures posted followthrough to Monday’s strong gains overnight, while buying was limited in corn and soybeans.
The HRW CCI rating has declined each of the three weeks this spring, while the SRW rating has improved each week.
Corn and soybean futures are under light pressure as wheat futures firm. Fat cattle are higher with feeder futures lower. Lean hogs are posting sharp early gains...
Winter wheat markets built on Friday’s corrective gains during overnight trade, while corn, soybeans and spring wheat struggled to find followthrough buying.
Marketings also dropped sharply during March.
Corn, soybean and wheat futures are expected to open firmer amid corrective buying.

Brian Grete