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Grains continued to fall under pressure overnight following Monday’s breakdown.
Corn, soybean and wheat futures faced followthrough selling to Monday’s losses during overnight trade.
Illinois accounted for the bulk of the decline for both crops over the past week.
Weekly corn inspections totaled 642,095 MT, up 16,851 MT from the previous week and are running 10.5% ahead of year-ago, while soybean inspections totaled 393,004 MT and are trailing year-ago by 16.2%.
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Grain and soy futures are mildly to moderately lower to start the week. Cattle futures are under corrective pressure and lean hogs are narrowly mixed...
Wheat futures led overnight weakness, though corn recovered to unchanged at the break. Soybeans recovered from overnight lows but are still facing losses.
Short-term trend turns bearish for soybeans and soymeal.