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Soymeal sales during the week ended May 16 landed short of pre-report expectations and were down 52% from the previous week. Meanwhile, corn sales rose 23% from the previous week.

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Corn, soybeans and wheat each saw an increase of buying interest this morning, with corn leading the way higher. Wheat saw relative weakness but went into the break well off session lows.

Grain markets posted two-sided price action in relatively quiet overnight trade.

Cash wheat prices continue to firm contra-seasonally.

Basis firmed for soybeans despite a sharp rise in the cash price.

After the Bell | May 22, 2024

Markets signal reduced odds of more than one rate cut this year following the release of minutes from latest monetary policy meeting.

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