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Strong gains in wheat led the corn market modestly higher overnight, while soybeans continued to struggle against technical resistance. Each saw increased selling into the break.

Corn, soybeans and wheat have adopted firmer tones this morning, led by strong gains in SRW wheat, after two-sided trade overnight.

After the Bell | April 4, 2024

Our updated monthly and quarterly price forecasts.

U.S. trade deficit widens | U.S. beef tariff quota filled | SPR filling stopped | Impact of EU farmer protests

Corn and soybeans are expected to open under light pressure. Wheat is expected to be mixed, with SRW lower, while HRW and HRS futures are likely to open with a firmer tone.

Weekly soybean sales during the week ended March 28 missed the pre-report range, while corn sales landed below 1.0 MMT for the first time since mid-February. Shipments, however, reached a marketing-year high.

Corn, soybeans and wheat posted light, two-sided trade overnight but have adopted a slightly firmer tone this morning.

Corn basis firmed despite an uptick in the cash price but remains weaker than average.