Pro Farmer
Corn futures led strength today across the grain and soy complex. Cattle futures bounced today, rebounding from recent weakness.
Corn and wheat led strength today while soybeans continue to see relative weakness.
Cattle futures bounced today while hogs pulled back from recent contract highs.
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Corn and soybeans mildly favored the downside in overnight trade while wheat saw relative strength.
Soybean sales continue to decline seasonally, falling short of analysts pre-report range for the week ended Feb. 6. Meanwhile corn and wheat sales each rose from the previous week and four-week average.
Grain markets held in tight price ranges overnight, with corn and soybeans trading lower and on session lows early this morning while wheat is firmer.
Corn and soybean basis remains below average.
