Ahead of the Open
Highlights opening calls for the grain and livestock markets along with comments and key news items.
Lack of export interest continues to draw attention in soybeans.
Soybeans lead overnight strength while corn and wheat saw action on either side of unchanged.
Corn led strength overnight as soybeans and wheat followed modestly to the upside.
Corn bulls have shown impressive resilience the past couple of days in the wake of Tuesday’s USDA Crop Production Report.
Net sales reductions for old-crop corn and soybeans were rather disappointing today as traders and analysts alike are looking for old-crop exports to end the year strong.
Soybeans are pulling corn and wheat higher.
Corn, soybeans and wheat each favored the downside in overnight trade, giving up a significant chunk of Monday’s gains.
Soybeans surged higher overnight, supported by Trump encouraging China to increases purchases of U.S. soybeans.
Corn, soybeans and wheat each saw an extension of recent strength early in the overnight session before testing technical resistance, which spurred selling pressure as bears continue to hold the near-term technical advantage.
Grains saw a solid rebound overnight that was bolstered by stronger than expected export sales this morning, which pulled soybeans higher as well.
Corn and wheat hit fresh contract lows overnight while soybeans saw relative strength.
Soybeans continue to lead strength as soymeal is leading a rebound.
Wheat led a late session rebound and was trading on session highs going into the break.
Corn found stiff technical resistance at the 10-day moving average overnight, which pushed prices off recent highs.
Corn, soybeans and wheat struggled to maintain early overnight bullish momentum and saw an increase in selling pressure going into the break this morning.