Agriculture News
Soybeans extended gains from the past two days during overnight trade, while corn and wheat firmed amid mild corrective buying.
Soybeans are expected to open higher amid corrective buying, while corn and wheat could face mild followthrough selling after failing to sustain buyer interest overnight.
Soybean futures traded higher overnight, while corn and SRW wheat failed to sustain earlier corrective buying.
Grain and soy futures will face followthrough selling amid eroding technicals and no indication from export sales data that prices are ‘cheap enough.’
Weekly corn, soybean and wheat sales were all within their respective ranges for week ended April 20. While cotton and pork sales were each up noticeably from the previous week and the four-week average.
Early corrective buying dried up overnight and grain/soy futures are trading lower and on session lows this morning.
Basis for corn and soybeans dropped despite a sharp decline in futures over the past week.
Grain and soy futures are expected to have a varied tone at the start of daytime trade.
Corn and soybeans posted mild corrective gains overnight, while wheat traded on both sides of unchanged.
Crop Consultant Dr. Michael Cordonnier’s expectations for corn and soybean plantings.