Wheat was supported by corrective buying overnight though futures are well off the highs this morning. Soybeans faced active followthrough selling, while corn was modestly lower.
The CCI ratings for all three crops are above the respective five-year averages for the date.
Inspections fell from the previous week for corn, soybeans and wheat.
Grain and soy complex futures are under solid pressure coming out of the holiday weekend, led lower by sharp losses in soyoil.
‘Punishingly hot’ temps, spotty rains into early next week.
Corn and soybean futures saw active followthrough buying overnight after strong gains Thursday, while the wheat market was quiet in two-sided trade.
Hot summer, featuring dryness in the western Corn Belt.
Heat isn't expected to build in the central and northern Corn Belt until after corn pollination.
