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Cash soybean prices mildly firmed while corn and wheat values dropped over the past week.
The overall drought footprint across the U.S. was unchanged, but corn, soybean and cotton areas worsened.
Corn is expected to open modestly higher on light corrective buying, while soybeans and wheat are likely to face price pressure.
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Corn and soybeans posted two-sided trade overnight, while winter wheat futures were unable to build on yesterday’s corrective gains and spring wheat faced followthrough selling.
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Corn and soybeans succumbed to selling pressure while hogs and cotton outperformed to the upside on Wednesday.
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Corn, soybeans and the winter wheat markets are expected to open higher amid light corrective buying.
Corn, soybeans and the winter wheat markets traded higher overnight amid corrective buying, while spring wheat faced mild selling pressure.
Weakness was seen across ag markets today despite the overall “risk-on” tone in the marketplace.
Grain and soy futures are expected to open lower, with the exception of spring wheat.
Corn, soybeans and winter wheat markets traded lower overnight, while spring wheat was mixed.
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Iowa and Nebraska led the CCI declines, while crops in Illinois improved.
Markets saw upside for the most part today, led by soybean strength. Wheat and cotton struggled to maintain spillover strength.
Soybeans showed relative strength overnight and carried corn futures higher into the break. Wheat futures continue to fall under pressure.
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