News
Corn, soybean and wheat futures gapped sharply higher at the start of overnight trade. While prices remain sharply higher, futures are trading low range this morning.
Corn and wheat futures built on Thursday’s strong corrective gains during overnight trade. Soybeans traded higher initially but failed to sustain the firmer tone.
Cash prices for corn, soybeans and wheat plunged over the past week.
USDA estimates the drought footprint at 29% for corn (up six points from last week), 22% for soybeans (up seven points), 19% for spring wheat (unchanged) and 68% for cotton (up seven points).
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Grain, soybean futures expected higher after surging overnight amid corrective buying.
Corn, soybean and wheat futures traded sharply higher overnight as markets rebounded from recent hefty losses.
Corn and soybean basis remains well above average, though cash prices plunged.
Corn, soybean futures rebound from initial drop to multi-month lows; wheat futures extend slide.
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