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Strong gains in wheat led corn and soybeans higher overnight. Wheat maintaining overnight gains will be key as the recent trend has been overnight strength followed by weakness after the open.

Short-term trend shifts from bullish to neutral for corn.

Wheat futures rebounded from the poor finish last Friday by posting strong gains during the overnight session. Corn and soybeans followed to the upside.

Iran president missing | Israel in crisis | Fed’s Powell positive for Covid-19 | Food prices | Anti-dumping duties on 2,4-D imports from China, India

House bill favors production ag; Senate bill puts lid on food stamp/TFP, conservation and CCC program changes

After the Bell | May 17, 2024

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Text and other provisions released for proposed House farm bill

Reference prices | Crop insurance | Payment limits | Base acres | Trade promotion | CCC

Grain futures are expected to open with a firmer tone after gains overnight. Key will be whether overnight price strength is maintained during daytime trade.