After the Bell
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.
Corn faced corrective selling following two days of gains, while soybeans ended the session modestly higher.
Corn and wheat posted modest short-covering gains at midweek, which stemmed from U.S. dollar weakness and a rally in crude oil futures. Soybeans ended mostly lower; seemingly caught in the crossfire of apparent spread trading in derivatives.
Corn and soybean futures posted modest corrective gains, while wheat edged lower amid technical selling.
The grain and soy complexes faced notable selling to begin the week as improving weather forecasts and technical selling weighed on prices.
Corn futures ended the session higher following a surprise cut to ending stocks in USDA’s supply and demand data today, while soybeans and wheat extended recent selling efforts.
U.S. dollar weakness, in the wake of a lower June CPI reading, spurred modest short-covering ahead of USDA’s supply and demand update on Friday.
Soybeans and wheat led the grain and soy complexes lower, while hog futures closed sharply lower amid cash market pessimism.
Corn and wheat posted mild corrective gains, while soybeans extended lower amid heavy selling in soyoil.
Broad-based selling was featured across the grain and soy complexes to begin the week as mostly favorable U.S. weather conditions bode well for production prospects.
Corn, soybeans and wheat each posted strong gains to end the week while livestock markets ended the day mixed in light volume trade.