After the Bell
Corn and soybeans led strength to end the week, though the livestock markets ended the week higher as well, despite continued weakness in the cash markets.
Short-covering efforts were featured across the grain and soy complexes to begin the week, with support stemming from a further weakening of the U.S. dollar.
Short-covering gains were featured across the grain and soy complexes despite minimal outside market support.
Forecasts of robust supplies weighed on the grain and soybean complexes today despite notably weaker U.S. dollar.
Corn futures rallied from contract lows forged in early trade following USDA’s Crop Production and Supply & Demand Reports, while rallying crude supplied a boost. Soybeans faded amid forecasts of a record crop.
Corn and soybeans both edged to fresh near-term lows into the close, amid risk-off sentiments following a week of volatile trade in the broader marketplace.
Technical selling hovered over the grain and soy complexes, though soyoil futures extended from Tuesday’s lows, marking gains for the first time in five sessions.
Soybean futures took back Monday’s gains, while corn ended the session modestly weaker amid mixed outside markets, though firming wheat prices lent support.