Ahead of the Open
Corn and soybeans pivoted around unchanged for most of the night while wheat saw light corrective buying.
Corn, soybeans and wheat each saw selling pressure overnight, with soybeans leading the way lower. Price action is likely to be partially forced by positioning ahead of Friday’s USDA Grain Stocks report.
Corn, soybeans and wheat each saw corrective buying overnight, though each faded into the break. Soybeans continue to show relative strength, despite mixed outside markets.
Soybeans and wheat saw gains into the break but are well off overnight highs, corn saw slight losses most of the night after condition data came in better than expected.
Grain prices pivoted around unchanged for most of the night, though wheat futures favored the upside.
Grain and soy markets are expected to see light corrective buying.
Grains saw followthrough buying from Tuesday’s lows overnight and went into the break higher, though recent volatility is likely to continue after the open.
Grains continued to fall under pressure overnight following Monday’s breakdown.
Wheat futures led overnight weakness, though corn recovered to unchanged at the break. Soybeans recovered from overnight lows but are still facing losses.
Overnight trade was fairly quiet, though corn and beans went into the break on the lows, while wheat is showing relative strength near unchanged.