Wheat futures posted strong gains overnight after a major dam in Ukraine was destroyed. Corn and soybeans traded solidly higher on lower-than-expected crop condition ratings.
Corn, soybeans and wheat are expected to open higher following solidly firmer trade overnight. Support will come from weather, greater risk appetite and outside markets.
Soybean futures pulled back from Monday’s strong gains during overnight trade, while the corn and wheat markets have firmed after earlier trading lower.
Above-normal precip is expected over the eastern two-thirds of the Corn Belt during the June through August period. There are 'equal chances' for temps over the Corn Belt during the period.