News
: Soybeans surged on corrective gains overnight, wheat traded higher though saw profit-taking into the break and corn futures saw continued selling pressure though maintained Friday’s reaction low.
Soybeans and wheat posted mild corrective gains overnight, while corn futures extended their price slide.
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Most of the data was bearish compared to pre-report expectations.
USDA pegged total U.S. corn and soybean production at 15.342 billion bu. and 4.165 billion bu., respectively amid a 2.4 bu. and 0.7 bu. bump in the national corn and soybean average yield estimate from November.
Corn, soybeans and wheat trended higher overnight on corrective gains, going into the break near session highs.