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Corn held on to corrective gains while soybeans and wheat turned lower. Cotton powered to yearly highs. Cattle faced losses while hogs showed relative strength.
Corn is expected to open modestly higher on light corrective buying, while soybeans and wheat are likely to face price pressure.
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Corn and soybeans posted two-sided trade overnight, while winter wheat futures were unable to build on yesterday’s corrective gains and spring wheat faced followthrough selling.
Corn and soybean basis falls ahead of harvest.
Corn and soybeans succumbed to selling pressure while hogs and cotton outperformed to the upside on Wednesday.
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Corn, soybeans and the winter wheat markets are expected to open higher amid light corrective buying.
Corn, soybeans and the winter wheat markets traded higher overnight amid corrective buying, while spring wheat faced mild selling pressure.
Weakness was seen across ag markets today despite the overall “risk-on” tone in the marketplace.