News
USDA showed slightly larger-than-expected U.S. carryover for corn, soybeans and wheat, while global corn and soybean carryover also topped average pre-report estimates. Global wheat carryover was lower.
Wheat led strength overnight with corn following to the upside, while soybeans saw relative weakness.
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Grain and soy futures firmed amid corrective buying overnight, led by HRW wheat contracts.
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Corn, soybeans and wheat each favored the downside overnight, though volume was light.
Corn, soybeans and wheat faced pressure during a lightly traded overnight session.
CCI ratings for both crops are above year-ago, especially for HRW.
Grains ended the day mixed as corn showed relative strength and wheat struggled to maintain overnight gains. Soybeans closed lower, soy products saw active spreading. Cotton saw profit-taking and livestock finished mixed