Agriculture News
Corn, soybean and spring wheat futures firmed amid followthrough buying overnight, while the winter wheat markets posted corrective gains.
Wheat futures posted sharp losses during overnight trade, while corn and soybeans also traded lower.
Grain and soy futures are expected to open with a varied tone this morning.
Two-sided trade was seen in grain markets overnight, but prices have turned firmer with the exception of SRW wheat.
Soybean basis dropped sharply amid the surge in futures, but the average cash price still rose sharply.
Expectations for the future jumped, while current conditions were unchanged.
Corn and winter wheat futures are likely to open lower, with soybeans expected to favor the upside.
Forecasts call for multiple rain chances for the Plains and Midwest into mid-July, with central and southern areas expected to be the wettest.
Soybean and spring wheat CCI ratings continue to drop.
Soybeans extended Friday’s strong gains but came well off the highs into the close. Corn and wheat failed to maintain earlier corrective gains.