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Corn, soybeans and wheat each favored the upside in overnight trade, with buying efforts intensifying this morning.
Corn and soybean futures posted modest corrective gains, while wheat edged lower amid technical selling.
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Corn, soybeans and wheat each saw corrective buying overnight though saw an increase in selling pressure into the break.
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All three crops remain rated well above year-ago.
The grain and soy complexes faced notable selling to begin the week as improving weather forecasts and technical selling weighed on prices.
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Corn, soybeans and wheat each saw sustained selling pressure overnight. Corn futures negated Friday’s gain while soybeans and wheat forged fresh lows.
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Corn futures ended the session higher following a surprise cut to ending stocks in USDA’s supply and demand data today, while soybeans and wheat extended recent selling efforts.
Report data triggered mild corrective buying in corn and soybean futures.
USDA pegged old-crop corn ending stocks at 1.877 billion bu., well below the average estimate of 2.049 billion bu. Soybean ending stocks were also short of average trade guesses, while 2024-25 wheat ending stocks were up notably amid higher production.