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Wheat futures faced active followthrough selling overnight, while corn and soybeans favored the downside in two-sided trade.
Wheat futures are higher with soybeans under pressure and corn futures caught in the middle. Cattle futures are higher with lean hogs under pressure…
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Wheat led strength overnight, soybeans led to the downside and corn was caught in the middle, though each faced increased selling pressure into the break.
Wheat futures posted strong gains overnight coming off the extended holiday weekend amid ongoing Russian crop concerns. Corn followed to the upside, while soybeans slumped after a firmer start.
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The decline in feedlot numbers was the first drop versus year-ago in eight months.
Beef stocks declined less than average during the month, while pork inventories built more than normal.
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