Corn faced followthrough selling overnight, while soybeans more than erased Thursday’s gains and the wheat market was mixed.
Corn and wheat traded lower overnight, while soybeans firmed a little in quiet price action ahead of USDA’s February crop reports later this morning.
Basis turned slightly negative for corn and soybeans despite a big drop in cash prices.
Corn futures fell to contract lows overnight, while soybeans posted double-digit losses and wheat followed to the downside.
Declining prices for key commodities weighed on agricultural producer sentiment in January.
Corn, soybeans and wheat traded in narrow ranges in two-sided price action overnight but have adopted a mostly firmer tone this morning.
Corn, soybeans and wheat open the week under pressure. Cattle futures are choppy with lean hogs lower this morning...
Soybeans posted light two-sided trade overnight, while the corn and wheat markets weakened.
Corn, soybeans and wheat faced light selling pressure early in the overnight session but have firmed this morning with wheat leading the move higher.
Corn, soybeans and wheat kicked off the new month with a round of fresh selling during the overnight session.

Brian Grete