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...
Corn favored the downside in light trade overnight, while soybeans and wheat had a mixed tone.
Corn, soybeans and wheat have adopted firmer tones this morning, led by strong gains in SRW wheat, after two-sided trade overnight.
Corn and soybeans are expected to open under light pressure. Wheat is expected to be mixed, with SRW lower, while HRW and HRS futures are likely to open with a firmer tone.

Brian Grete