After the Bell
Forecasts of robust supplies weighed on the grain and soybean complexes today despite notably weaker U.S. dollar.
December corn extended losses, ultimately forging a sub-$4.00 close for the first time since late 2020, despite notable outside market support, while soybeans and wheat ended the session modestly higher.
The grain and soy complex edged lower amid low volume trade and mostly favorable weather throughout the Midwest.
Corn and soybeans were able to rebound from intraday lows amid a wheat led charge.
Selling was featured across the grain and soy complexes to end the week, though corn and soybeans were able to notch modest weekly gains, while wheat futures marked contract lows.
Corn and soybean futures notched gains, while wheat consolidated lower amid lingering technical pressure.
Corn futures edged higher for the third straight session, though earlier gains across the grain and soy complexes faded as the U.S. dollar rose from its mid-morning low.
Technical headwinds and U.S. dollar strength weighed on wheat futures, which pulled corn and soybeans from intraday highs.
Corn soybeans and SRW wheat each notched weekly losses as technical pressure continues to curb buyer interest, though SRW futures notched a promising daily gain despite followthrough strength in the U.S. dollar.
Corn faced corrective selling following two days of gains, while soybeans ended the session modestly higher.