Brian Grete

Wheat futures will lead price gains in the grain and soy markets amid concerns with the HRW crop and Black Sea grain deal.
Wheat futures posted strong gains overnight, while soybeans traded solidly higher and corn was mixed amid bull spreading.
Wheat futures are expected to open solidly higher, with corn and soybeans likely to be mixed with a firmer tone. Pre-report positioning will be featured this morning ahead of USDA’s May crop reports.
Corrective buying supported corn, soybean and wheat futures ahead of USDA’s May crop reports later this morning.
Corn, soybeans and wheat are expected to open lower this morning after losses overnight and disappointing export data, especially for soybeans.
Corn, soybean and wheat futures faced pressure while holding in relatively tight trading ranges overnight.
Corn basis remains premium and well above average.
USDA will update its old-crop ending stocks, release its first 2023-24 balance sheets and issue its initial winter wheat crop estimate.
Corn, soybeans and wheat are expected to open lower on followthrough selling, but all three markets finished well off their overnight lows.
Corn, soybeans and SRW wheat faced followthrough selling overnight, while HRW and HRS wheat futures pulled back from Tuesday’s gains.