Ahead of the Open
Corn, soybeans and wheat surged following technically bearish closes on Thursday.
Corn, soybeans and wheat each favored the downside in overnight trade as prices consolidate following recent bullish moves.
Corn and soybeans saw consolidation overnight following yesterday’s big push higher while wheat saw relative strength.
The grain and oilseed complex traded in a tight range overnight ahead of today’s USDA reports.
Grain price action was relatively subdued despite volatile outside markets overnight.
Winter wheat suffered a technical breakdown, trading lower
Funds remain on the sell side of the market, with soybeans closing lower for seven consecutive sessions.
Corn, soybeans and wheat each are trading lower this morning with corn and soybeans hitting a fresh for-the-move low.
Mexico steps in with a big corn purchase.