News
Wheat led strength overnight, with corn following modestly to the upside. Soybeans favored the downside and went into the break near session lows.
Corn, soybeans and wheat each traded in tight ranges overnight considering the recent volatility.
Grain futures mildly pulled back from recent corrective gains during the overnight session.
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Corn, soybeans and wheat favored the upside in early overnight trade, though sellers emerged early this morning, bringing corn and soybeans below yesterday’s close.
Wheat futures posted followthrough to Monday’s strong gains overnight, while buying was limited in corn and soybeans.
The HRW CCI rating has declined each of the three weeks this spring, while the SRW rating has improved each week.
Weekly corn inspections for the week ended April 18 exceeded pre-report estimates by 120,000 MT, while soybeans and wheat were within expectations.