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Soybean futures posted corrective gains overnight, while the corn and wheat markets favored the downside in light trade.

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Soybeans led the grain and soy markets lower overnight as May soybeans trade fresh contract lows. Export sales rebounded for corn and wheat but remain abysmal for soybeans, according to this morning’s report.

Weekly cotton sales during the week ended Feb. 22 were down 69% from the previous week and 83% from the four-week average. Meanwhile, corn, soybean and wheat sales each rose week-over-week.

Corn and soybeans favored the downside and are near session lows this morning, while wheat is mostly weaker.

Cash corn and soybean prices continue to drop.

Basis firms for both corn and soybeans but remains slightly below average.