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Corn, soybeans and the winter wheat market mildly favored the upside in quiet overnight trade ahead of USDA’s October crop reports later this morning.
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Wheat led strength overnight, with corn and beans recovering a portion of yesterday’s losses.
Wheat futures extended Tuesday’s gains overnight, while the corn and soybean markets rebounded from their losses.
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Soybeans led weakness overnight with corn and wheat following to the downside. The key will be if strength returns after the open, which has been the recent norm.
Soybeans faced heavy followthrough selling overnight, while corn and wheat pulled back from Monday’s gains.
CCI ratings are still 29.7 points (8.8%) above year-ago for corn and 26.1 points (7.8%) above for soybeans.