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Corn, soybeans and wheat each gapped lower on the overnight open, though corn and wheat saw limited followthrough selling pressure.
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Wheat led losses overnight with corn and soybeans following to the downside.
Selling pressure mounted during the overnight session, with corn, soybeans and wheat trading near session lows early this morning.
Cash corn and soybean prices rebound but remain well below year-ago.
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Corn and soybeans continue to lead strength, while wheat spent most of the overnight session trading near unchanged.
Pre-report expectations ranging from 2.2 MMT to 3.3 MMT indicated analysts expected huge corn sales during the week ended Oct. 17, though net sales topped the range by 300,000 MT. Soybean sales were also notable at 2.15 MMT.
The report highlights economic condition across the 12 Fed districts.
Corn and soybeans built on Wednesday’s corrective gains overnight, while the wheat market traded on both sides of unchanged.