The International Grains Council released its initial projections for 2024-25
Soybeans extended their recent corrective gains during the overnight session, while wheat traded lower and corn favored the downside in two-sided trade.
Basis slipped a little for corn, soybeans and SRW wheat as cash prices firmed.
Soybean futures retreated from Tuesday’s gains during overnight trade, while the corn and wheat markets have weakened after two-sided price action earlier in the session.
Soybeans extended Monday’s declines overnight, while corn and wheat pulled back from yesterday’s gains.
Corn, soybeans and wheat pulled back from Friday’s corrective gains during the overnight session.
Grain trade was light overnight ahead of USDA’s March crop reports later this morning.
February’s Farm Financial Performance Index reading of 85 was 1 point lower than January and 13 points below its most recent peak in December.
Corn futures built on Wednesday’s gains overnight, while soybeans and wheat also firmed amid corrective buying.
Corn and soybean basis weakens on the rollover to May futures.

Brian Grete