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Grain and soy futures are expected to open lower amid generally favorable weather and bearish Chinese trade data.

Corn and soybeans faced followthrough selling overnight, while wheat futures pulled back from Monday’s gains.

The corn CCI rating is now less than 1% below year-ago, while soybeans and spring wheat are still notably under last year at this time.

After the Bell | August 7, 2023

USDA reported weekly inspections declined for corn, soybeans and wheat, with wheat falling more than 310,000 MT from the previous week, missing pre-report estimates.

Corn and soybeans are under pressure as wheat trims overnight gains. Cattle futures are choppy as lean hog futures work higher...

Warning on AI | Corteva | Tyson Foods | Oil prices rally | Flooding in China’s grain basket

We expect widely varied trade in the grain and soy markets this morning amid pressure from weather and support from escalating tensions in the Black Sea region.

Short-term trends turn bearish for corn, soybeans and wheat.

Soybean futures were pressured overnight by weekend rainfall across the Corn Belt, while wheat rallied amid mounting tensions in the Black Sea. Corn was caught in the middle and traded on both sides of unchanged.