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The new month kicked off with corrective price gains in the grain markets overnight, led by soybeans.

A rising U.S. dollar index pressured crop and hog markets today, though cattle showed relative strength.

Cash soybean prices mildly firmed while corn and wheat values dropped over the past week.

The overall drought footprint across the U.S. was unchanged, but corn, soybean and cotton areas worsened.

Corn is expected to open modestly higher on light corrective buying, while soybeans and wheat are likely to face price pressure.

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Corn and soybeans posted two-sided trade overnight, while winter wheat futures were unable to build on yesterday’s corrective gains and spring wheat faced followthrough selling.

Corn and soybean basis falls ahead of harvest.