News
Grain futures are expected to open firmer this morning as traders watch weather and uncertainty with the Black Sea grain deal.
Corn, soybean and wheat futures traded on both sides of unchanged during the overnight session but have firmed and are near their highs this morning.
The World Board cut the corn yield projection due to extreme dryness through June. The soybean yield was left unchanged.
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Soy complex futures are expected to lead a corrective rebound.
USDA reported net corn sales of 468,400 MT for 2022-23 and 470,800 MT for 2023-24, notably exceeding pre-report estimates.
Soybeans led a corrective rebound in the grain and soy markets overnight.
Corn and soybean basis are now both below the three-year averages.