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Grain and soy futures traded in a two-sided range overnight. Some expect the harvest of China’s wheat crop to temper its voracious corn buying.

“Reports indicate much of this week’s heavy rains was immediately absorbed by the severely dry soils, with no runoff into empty dugouts or ponds,” according to today’s Drought Monitor Summary.

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Highlights of today’s ag futures markets.

Our Market Watch table features monthly and quarterly price outlooks along with weekly prices for a variety of ag markets.

China bought a total of 5.812 MMT of corn the week ending May 20, with 5.644 MMT of those purchases being new-crop.