Ahead of the Open
Corn, soybeans and wheat are each poised to work higher on a technical basis.
Soybeans led strength overnight and are trading above key resistance this morning.
Corn and wheat favored the downside overnight, continuing the tight correlation with crude oil futures.
Corn led strength overnight, following crude oil higher.
A volatile night of trade was capped with volatility spiking as rhetoric around the war in the Middle East is flip-flopping.
The grain and soy complex saw consolidation overnight.
Corn continues to lead strength with wheat and soybeans following to the upside.
Grains saw modest strength overnight while soybeans continue to fall under modest selling pressure.
Soybeans and corn saw modest strength overnight on corrective buying while wheat favored the downside.
Soybeans led weakness overnight amid concerns over China’s absence from the U.S. market following a meeting between the countries officials this weekend.