Soybeans continued Monday’s rally overnight, corn is pressing into the upper end of the recent sideways range and wheat saw corrective buying off yesterday’s for-the-move low.
Corn and soybeans reversed early overnight losses and into the break nearer session highs, as soybeans continue to lead strength. Wheat futures slipped, continuing last week’s weakness.
Soybeans favored the downside overnight, while corn and wheat saw lighter price pressure. Each saw buyers come under the market this morning though and rallied into the break.
Corn and soybeans saw modest losses overnight following volatile trade on Thursday following the updated USDA reports, while wheat went into the break on session highs, modestly higher
Soybeans failed to sustain early strength overnight and favored the downside into the break, while corn and wheat traded lower throughout overnight trade. Beans are likely to be supported by large China purchases.
