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ECB cuts rates | Brazil places export tax on goods | HPAI confirmed in Iowa dairy herd | Human dies from HPAI in Mexico | U.S. trade deficit rises again

Corn, soybeans and wheat each posted corrective gains overnight, with corn leading the way higher. The open has brought selling pressure most of this week, a change of that trend will be key.

Weekly corn sales during the week ended May 30, rose 46% from the previous week and 41% from the four-week average. Meanwhile, new-crop wheat sales topped pre-report expectations by 117,000 MT.

Corn and soybean futures were supported by corrective buying overnight, while wheat pivoted around unchanged.

Basis firmed for corn, soybeans and wheat as cash prices dropped sharply.

After the Bell | June 5, 2024

Reduced Roundup verdict against Bayer in Pa. | RGDS flooding | China warns Biden | Yen rally | India surprise | Russian crop losses | Possible Canada border strike

Soybeans posted modest corrective gains overnight while corn and wheat pivoted near unchanged. Sellers have commanded the opens thus far this week, a break from that trend will be key.