News
Corn and soybeans favored the upside overnight, which wheat saw profit-taking following Wednesday’s big push higher.
Wheat saw relative strength, soybeans consolidated near recent highs and corn saw moderate weakness overnight.
The broader marketplace is monitoring escalating tensions in the Middle East and awaits Fed commentary and other macroeconomic developments.
Updates on trade deals, negotiations with UK, Canada and Japan.
Winter wheat saw relative strength overnight which helped pull new-crop corn futures higher.
Corn, soybeans and spring pivoted around unchanged overnight, while the winter wheat markets mildly favored the upside.
Soybean crop ratings took a small step backwards over the past week.
Corn inspections totaled 1.67 MMT during the week ended June 12, down slightly from the previous week but landed just short of the upper end of the pre-report range.
A lot of market-moving factors for markets to digest entering a typically volatile period.