Soybean futures failed to sustain followthrough buying overnight and have turned mostly weaker this morning. Corn and wheat traded lower throughout overnight trade.
Soybean basis improved but remains below average.
Soybean futures posted strong gains overnight on talk of big Chinese purchases, while corn and wheat followed to the upside.
Higher-than-expected corn and soybean yields in some Corn Belt locations, along with a modest rally in corn prices, contributed to this month’s rise in farmer sentiment.
Soybeans pulled back from recent strong gains amid corrective selling overnight, while corn and wheat also traded lower.
Both crops remain well above year-ago levels.
Soybeans and corn are higher with wheat futures under light pressure. Cattle futures are under pressure with lean hogs off to a positive start to the week...
Soybean futures posted strong gains overnight, which spilled over to corn, while wheat faced light selling pressure.
Corn, soybeans and wheat held in relatively tight ranges while spending time on both side of unchanged during overnight trade.
Soybeans traded sharply higher overnight, while corn and most wheat contracts posted milder gains.

Brian Grete