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Corn and wheat faced followthrough selling overnight, while the soybean market extended last Friday’s corrective gains.
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All three categories came in on the negative side of the average pre-report estimates.
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Soybeans led strength overnight with corn and wheat following modestly to the upside.
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Corn, soybeans and wheat held in relatively tight trading ranges during a quiet overnight session.
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Slight uptick in weekly cash corn prices.
USDA estimated 40% of the U.S. winter wheat crop was experiencing D1-D4 drought conditions, down 3 points from last week and one point less than last year at this time.
Wheat boasted relative strength overnight while corn and soybeans struggled to follow to the upside.
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