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USDA reported weekly corn sales in week ended March 16 at 3.096 MMT, while soybeans and wheat each missed the low-end of their respective pre-report ranges.

Corn futures built on Wednesday’s corrective gains overnight, while soybeans and wheat bounced after recent losses.

Cash corn, soybean and wheat prices are well under year-ago.

The Federal Reserve raised interest rates 25 basis points but seemed to give mixed signals on further monetary policy action. The benchmark lending rate was increase to a range of 4.75% to 5.00%.

Cash livestock and wholesale meat prices dropped over the past week.

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Grain and soy complex futures are expected to open solidly lower on followthrough selling after bears controlled overnight trade.

Bears controlled price action overnight, with corn, soybean and wheat futures trading solidly lower and near their session lows this morning.