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Grain and soy futures faced pressure overnight amid a lack of bullish news and negative outside markets.
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Corn, soybean and wheat futures are expected to open with a firmer tone this morning as markets continue to recoup sharp losses from earlier this week.
Grain and soybean futures continued their attempt overnight to recoup some of the recent sharp price losses.
Soybean sales for the week were down 14% from the previous week and 25% below the four-week average. Corn sales for the week were down 48% from the four-week average, though wheat sales were up 39%.
Soybeans are expected to open mildly weaker after fading late in the overnight session. Corn and wheat are called slightly firmer at the start of daytime trade.
Corn, soybean and wheat futures built on yesterday’s corrective gains during the overnight session.
Corn basis firmed, though the average cash price fell sharply.
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Soybeans are expected to open firmer on corrective buying. Corn and wheat are likely to be mixed.