With all three categories coming in on the bearish side of the average pre-report estimates, the report is price-negative.
Soybean futures built on Wednesday’s strong gains overnight, while the corn and winter wheat markets faced corrective selling.
Corn basis firms, soybean basis slips; both remain above futures.
Soybeans rebounded from Tuesday’s losses overnight, while wheat and corn extended yesterday’s gains.
Both above pre-report expectations
Short-term trend turns down for oats, sideways for soymeal.
Soybeans posted double-digit losses overnight coming out of the extended weekend, while corn was slightly lower. Wheat futures posted corrective gains.
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Soybeans and wheat extended Thursday’s losses overnight, while corn mildly bounced after holding support at yesterday’s lows.
