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Vilsack: Supreme Court ‘didn’t understand’ the pork market re: Prop 12 ruling
Wheat futures led weakness overnight, dragging corn and soybeans lower. Corn and beans remained within Thursday’s range overnight.
Winter wheat futures faced moderate to heavy selling pressure overnight, while milder losses were posted in corn, soybeans and spring wheat.
ECB cuts rates | Brazil places export tax on goods | HPAI confirmed in Iowa dairy herd | Human dies from HPAI in Mexico | U.S. trade deficit rises again
Corn, soybeans and wheat each posted corrective gains overnight, with corn leading the way higher. The open has brought selling pressure most of this week, a change of that trend will be key.
Weekly corn sales during the week ended May 30, rose 46% from the previous week and 41% from the four-week average. Meanwhile, new-crop wheat sales topped pre-report expectations by 117,000 MT.
Corn and soybean futures were supported by corrective buying overnight, while wheat pivoted around unchanged.
Basis firmed for corn, soybeans and wheat as cash prices dropped sharply.
Reduced Roundup verdict against Bayer in Pa. | RGDS flooding | China warns Biden | Yen rally | India surprise | Russian crop losses | Possible Canada border strike
Soybeans posted modest corrective gains overnight while corn and wheat pivoted near unchanged. Sellers have commanded the opens thus far this week, a break from that trend will be key.
Corn, soybeans and wheat held in relatively tight trading ranges during a quiet overnight session.
Both the current conditions index and future expectations index rose from April.
SAF | More Deere layoffs, to move production | Crude oil prices plunge | USDA’s strategy against bird flu in dairy cattle
Corn, soybeans and wheat each saw sustained selling pressure overnight, with soybeans showing relative strength.
Corn futures showed mild followthrough selling throughout the overnight session, while soybeans and wheat have weakened this morning following two-sided trade earlier in the session.