Grain and soy futures finished higher and high-range overnight as outside market pressure from Tuesday eased. Cattle and hogs also expected to open higher.
Corn and soy complex futures posted modest corrective gains overnight. Wheat futures were weaker for most of the overnight session but have turned mixed early this morning.
Grain and soy markets faced heavy selling tied to improved peace talks between Russia and Ukraine. Hogs futures also faded on that news, while cattle firmed amid the sharp pressure on corn.
Grain and soy futures are under heavy pressure from increased hopes in peace talks between Russia and Ukraine. Hog futures are also sharply lower, while cattle are trading higher amid the sharp drop in corn.
Followthrough pressure from heavy selling in grain and soy futures late in the overnight session amid renewed hopes of Russia/Ukraine peace talks. Livestock markets expected to open lower, too.
Grain and soy markets faced heavy pressure from broad risk aversion. Cattle futures were also pressured by that selling, while hogs shook it off to close mostly firmer.
Grain and soy futures will face heavy pressure this morning. Cattle futures are also expected to trade lower, while hogs may see followthrough strength on the open.
Wheat futures led overnight price declines. Despite the heavy pressure, wheat and corn futures remained within their recent sideways trading ranges, while soybeans stayed within their choppy to higher range.
USDA’s Cattle on Feed Report Friday afternoon is expected to show March 1 inventories up 1.1% from year-ago levels, which if realized would top last year’s record for the date by 132,000 head.
Corn, soybean and wheat futures held within Tuesday’s price ranges overnight in relatively quiet trade that has markets trading higher and near session highs this morning.
Global supply concerns amid the ongoing war between Russia and Ukraine fueled active followthrough buying in grain and soy markets overnight, led by winter wheat.
Bulls controlled overnight trade in the grain and soy complex amid global supply concerns as Russia’s invasion of Ukraine is showing no signs of letting up or ending anytime soon.
The extended weather outlook through June offer no hope of meaningful relief for drought-parched HRW areas, but it favorable for rapid progress for spring-planted crops.
Corn and soybeans firmed after failing to take out Wednesday’s lows overnight. Wheat futures gapped lower but rebounded to fill the gaps and are trading mostly firmer this morning.
Volatility was reduced from recent days in grain and soy complex futures overnight, as corn, soybeans and wheat all traded within relatively tight ranges compared to recent standards.
Grain and soy complex futures are called higher, with wheat trade likely to remain extremely volatile. Livestock futures are expected to face followthrough selling.
Wheat futures gapped lower overnight after limit-down closes on Wednesday and sharply extended losses. But wheat filled the gaps and is trading higher this morning, as are corn and soybeans.