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Grain markets are expected to open sharply higher amid weather and crop concerns for corn and soybeans.

Mounting weather concerns supported corn and soybean futures overnight, while wheat followed to the upside.

Iowa DDG prices fall below $200 per ton; Illinois soymeal prices nearing $400 per ton.

The Fed hit the pause button this month, but new projections show another two rate hikes are likely this year.

Basis dropped for both corn and soybeans but remained better than average.

FOMC decision day: Skip now and boost ahead?

After the Bell | June 14, 2023

Grain and soy futures are expected to open moderately to sharply lower despite supportive outside markets.

Corn and soybeans pulled back from their recent gains during overnight trade. Wheat was led lower by HRW contracts amid increased harvest activity.