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Soybeans firmed to near their weekly highs overnight, while corn and wheat recouped some of their declines from the three previous days.

After the Bell | May 16, 2024

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During the week ended May 9, weekly pork sales totaled 21,100 MT, a marketing-year low, while soybean sales missed the pre-report range of estimates, falling 38% from the previous week. Weekly corn sales dropped 17%.

Cash wheat prices continue to climb.

Drought covers 25% of winter wheat areas, 12% for corn and 9% for soybeans.

Wheat futures led resurgent strength across the grain and soy markets overnight.

Wheat rebounded from yesterday’s losses overnight, pulling corn and soybean futures modestly higher.