Declines in the HRW CCI rating were fully offset by improvements in SRW crop.
Corn, soybeans and wheat mildly favored the downside in relatively quiet overnight price action.
After weaker trade early in the overnight session, modest corrective buying gradually built in corn and soybeans, while wheat is narrowly mixed this morning.
Corn, soybeans and wheat held in tight ranges during relatively quiet overnight trade ahead of USDA’s April crop reports later this morning.
Corn basis turns positive but still below average.
Market now reflects the highest odds are for the first rate cut in September.
Grain and soy futures firmed amid corrective buying overnight, led by HRW wheat contracts.
Corn, soybeans and wheat faced pressure during a lightly traded overnight session.
CCI ratings for both crops are above year-ago, especially for HRW.
Wheat and soybean futures are higher with corn futures chopping around unchanged. Cattle future are firmer with lean hogs under moderate pressure...

Brian Grete