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Soybean futures posted sharp losses overnight, while corn and wheat traded mildly lower.

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The Seasonal Drought Outlook calls for drought to persist across much of Iowa, Minnesota and Wisconsin through June.

Corn, soybeans and wheat each favored the upside overnight, though corn and soy went into the break well off session highs.

Weekly wheat sales were reported at (109,600) MT for the week ended March 14, which were down noticeably from the previous week. Corn and soybean sales were as expected.

Soybeans posted followthrough buying to Wednesday’s strong gains during overnight trade, while corn and wheat mildly favored the upside.