Corn and soybeans traded lower overnight after USDA raised crop condition ratings more than anticipated Monday afternoon. Wheat faced followthrough selling amid a lack of supportive news.
The corn CCI is now above year-ago, while the soybean rating is virtually equal to last year at this time.
Soybeans are posting strong gains with corn and wheat under pressure. Cattle futures are modestly weaker with lean hogs choppy…
Soybeans are expected to open firmer, while corn and wheat are called lower.
Soybeans recouped Friday’s losses during overnight trade. Corn and wheat failed to sustain early buyer interest overnight and are lower this morning.
Markets had a muted response to the data aside from a big jump in cotton.
Light price action is expected in the grain and soy markets this morning ahead of USDA’s August crop reports.
Corn, soybeans and wheat traded in relatively tight ranges during the overnight session as traders awaited USDA’s August crop reports later this morning.
Grain and soy markets are expected to open with a firmer tone amid corrective buying.
Soybean futures extended gains from the two previous days during overnight trade, while corn and wheat rebounded amid corrective buying.

Brian Grete