The grain markets saw limited volatility overnight, with corn seeing slight buying into the break, soybeans seeing mild selling pressure and wheat facing profit taking from Tuesday’s rally.
Corn and soybeans underwent heavy selling pressure throughout the session, despite corrective buying in the wheat and cotton markets. Livestock fell under pressure as well, as cattle saw selling and hogs continue to fall
Soybeans showed impressive strength throughout the session despite weakness in corn, wheat and cotton. Live cattle futures made multi-week highs though faded into the close. Hogs traded around unchanged.
Wheat futures are under pressure with corn and soybeans choppy. Cattle futures are extending last week’s gains with lean hogs choppy to start the week…
Corn traded narrowly to the downside overnight, soybeans traded lower early but went into the break nearer session highs, while wheat saw sustained selling pressure.
Corn and wheat gapped higher overnight and showed continued strength, while soybeans traded on both sides of unchanged, though went into the break nearer session highs.
Large purchases from China during week ended Dec. 7 boosted wheat sales to 1.5 MMT during the week, a marketing-year high. China's purchases totaled 1.12 MMT during the week.