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Corn and soybeans gave up early corrective gains overnight, though wheat holds onto marginal gains. Weak export sales across the board helped spur selling pressure this morning.
Cash hog prices gained strength in the seasonal rebound.
Fed fund futures continued to reflect the greatest odds for a Fed rate cut starting in June, with three or perhaps four reductions by year-end.
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Soybeans continue to lead the grain and soy markets, driving prices lower overnight.
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Tuesday’s corrective buying in the grain and soy markets dried up overnight, as corn, soybeans and wheat faced price pressure.
Weekly corn inspections during the week ended Feb. 15 rose a modest 26,000 MT, while soybean and wheat inspections declined on the week.
Corn, soybeans and wheat are favoring the upside to start the week. Cattle futures are choppy with lean hogs pointed higher...