Grain and soy markets are expected to open higher on support from concerns with U.S. weather and Black Sea grain supplies.
Corn, soybean and wheat futures traded solidly higher overnight on support from Russia halting the Black Sea grain deal and weather concerns.
Grain futures are expected to open firmer this morning as traders watch weather and uncertainty with the Black Sea grain deal.
Corn, soybean and wheat futures traded on both sides of unchanged during the overnight session but have firmed and are near their highs this morning.
The World Board cut the corn yield projection due to extreme dryness through June. The soybean yield was left unchanged.
Soy complex futures are expected to lead a corrective rebound.
Soybeans led a corrective rebound in the grain and soy markets overnight.
Corn and soybean basis are now both below the three-year averages.
Soybeans are expected to trade sharply higher as traders prepare for what’s anticipated to be bullish changes to USDA’s new-crop balance sheet.
Soybean futures extended this week’s gains ahead of USDA’s reports during overnight trade. Corn followed to the upside, while wheat traded mostly lower.

Brian Grete