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CFTC releases more data | Xi/Putin | EPA chief to testify | Stepped-up basis tax rule protection
Grain and soy complex futures are expected to open solidly lower on followthrough selling after bears controlled overnight trade.
Bears controlled price action overnight, with corn, soybean and wheat futures trading solidly lower and near their session lows this morning.
Xi invites Putin to visit China as two leaders sign pacts and discuss war cooperation
Corn, soybeans and wheat finished higher and near their session highs overnight, which should fuel followthrough buying this morning.
Light corrective buying has surfaced in some of the grain and soy futures early this morning after they faced pressure for much of overnight trade.
Corn, soybeans and wheat export inspections each topped the previous week, though soybean Inspections continue to run ahead of last year by nearly 3.0%, while corn lags by over 36.0%, with wheat behind by 1.6%.
Banking woes are pressuring grains and soy futures to start the week. Cattle futures open the week with mild gains as hog futures encounter hefty pressure.
Unease with the global economy tied to the banking sector will weigh on grain and soy futures.
Another weekend of financial firefighting casts gloomy tone for the week ahead
Short-term trends turn bearish for soybeans and lean hog futures.
Bears controlled price action in the grain and soy markets overnight amid ongoing macroeconomic unease.
FOMC rate decision | Yellen | Banking crises | New farm bill | Ukraine grain export pact
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Xi will visit Moscow next week for first time since Russia’s invasion of Ukraine
Grain and soy futures are expected to open higher. There was another daily corn sale to China.