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Grain and soy markets surged overnight, each would mark a significant reversal if gains are sustained throughout today’s session.
Soyoil sales for the week ended Feb. 29 reached a marketing-year high of 29,200 MT, while soybean sales landed above pre-report estimates. Meanwhile, corn and wheat sales were within their respective pre-report ranges.
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Corn futures built on Wednesday’s gains overnight, while soybeans and wheat also firmed amid corrective buying.
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Corn and soybeans saw action on both sides of unchanged overnight, wheat favored the downside though pared losses into the break.
Wheat futures faced followthrough selling during the overnight session, while corn and soybeans held near unchanged in quiet trade.
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