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Grains ended the day mixed as corn showed relative strength and wheat struggled to maintain overnight gains. Soybeans closed lower, soy products saw active spreading. Cotton saw profit-taking and livestock finished mixed
Corn inspections during the week ended April 4 were down 51,859 MT from the previous week but topped pre-report expectations. Wheat and soybean inspections also fell from the previous week but were as expected.
Wheat and soybean futures are higher with corn futures chopping around unchanged. Cattle future are firmer with lean hogs under moderate pressure...
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Corn, soybeans and wheat each traded on both sides of unchanged overnight, though saw increased buying towards the end of the overnight session, each going into the break nearer session highs.
Corn favored the downside in light trade overnight, while soybeans and wheat had a mixed tone.
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Strong gains in wheat led the corn market modestly higher overnight, while soybeans continued to struggle against technical resistance. Each saw increased selling into the break.
Corn, soybeans and wheat have adopted firmer tones this morning, led by strong gains in SRW wheat, after two-sided trade overnight.
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Corn and soybeans are expected to open under light pressure. Wheat is expected to be mixed, with SRW lower, while HRW and HRS futures are likely to open with a firmer tone.
Weekly soybean sales during the week ended March 28 missed the pre-report range, while corn sales landed below 1.0 MMT for the first time since mid-February. Shipments, however, reached a marketing-year high.
Corn, soybeans and wheat posted light, two-sided trade overnight but have adopted a slightly firmer tone this morning.
Corn basis firmed despite an uptick in the cash price but remains weaker than average.