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Corn and soybeans failed to hold earlier corrective gains late in overnight trade and are expected to open lower this morning.

Corn, soybeans and wheat firmed overnight amid mild corrective buying following sharp losses the first two trading sessions of the new year.

Farmers National Company reports strong gains in farmland prices.

Basis declined for corn and soybeans over the past week but remained positive and above average.

After the Bell | January 4, 2023 Grains extended the previous session’s losses as Covid cases increase in China, pressuring global demand.

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Soybeans are expected to trade higher on corrective buying. Corn and wheat are likely to face followthrough selling.

Soybeans were supported by corrective buying overnight, while corn and wheat faced followthrough selling.