Agriculture News
Corn futures pivoted around unchanged in quiet overnight trade while soybeans were supported by corrective buying and wheat pulled back from gains earlier this week.
Grain and soy futures favored the downside overnight as anxiety with the U.S. banking situation triggered general risk aversion.
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Soybeans are expected to open with a weaker tone after price pressure overnight. Corn and wheat may receive some support from a sharp drop in the dollar.
Soybeans traded higher on corrective buying early in the overnight session but are weaker this morning, while corn and wheat pivoted around unchanged.
USDA reported 23,000 MT of soybean reductions for week ended March 2, a new marketing year low, while corn sales proved solid, landing near the top-end of the expected pre-report range of 1.2 MMT.
Corn and soybeans are expected to open slightly firmer. Wheat will continue to struggle to find buyers.
Corn and soybeans traded higher overnight, while the wheat market turned mixed this morning after corrective gains earlier in the session.
