Corn futures were unable to generate followthrough buying overnight after Thursday’s gains, while the soybean and wheat markets extended yesterday’s declines.
The 90-day forecast from the National Weather Service signals increased chances of above-normal precipitation across most of the key HRW production areas of the Central and Southern Plains through February.
Corn, soybeans and wheat faced followthrough selling to Wednesday’s losses during the overnight session.
Corn and soybean basis mildly improved.
Soybeans and soymeal led price gains overnight after high-range closes on Tuesday. Corn and wheat followed to the upside.
Soybeans and soymeal led a pullback from Monday’s gains during the overnight session, while corn and wheat saw lighter price pressure.
Both crops remain well above last year’s levels.
Soybean futures are off to a higher start as corn and wheat futures lag. Cattle futures are under pressure with lean hog futures mixed.
Soybean futures firmed overnight while the wheat market weakened. Corn was caught in the middle amid light, two-sided trade.
Corn, soybeans and wheat tried to work higher early in the overnight session, but buyer interest was limited and light pressure ensued.

Brian Grete