Ahead of the Open
Corn and soybeans saw modest corrective selling overnight on light volume, while wheat futures consolidated near contract lows.
Grain and soy markets surged overnight, each would mark a significant reversal if gains are sustained throughout today’s session.
Corn and soybeans saw action on both sides of unchanged overnight, wheat favored the downside though pared losses into the break.
Corn, soybeans and wheat each saw selling pressure overnight, with wheat leading the way lower.
Soybeans continue to show relative strength, corn retraced Friday’s losses and wheat saw spillover strength overnight. Each firmed into the break.
Soybeans posted corrective gains overnight, wheat posted modest losses and corn was caught in the middle.
Soybeans led the grain and soy markets lower overnight as May soybeans trade fresh contract lows. Export sales rebounded for corn and wheat but remain abysmal for soybeans, according to this morning’s report.
Corn futures showed relative strength overnight, soybeans pivoted near unchanged and wheat gave up a significant portion of Tuesday’s gains.
Soybeans led the way higher overnight as soybeans, corn and wheat each saw gains into the break. Each is nearing 10-day moving average resistance, which will be the first real test of the recent bounces.
Corn futures fell to fresh contract lows overnight, dragging wheat lower as well. Soybeans fell to contract lows though saw corrective buying into the break.