Ahead of the Open
Wheat futures will lead the ongoing price recovery in the grain and soy markets as Cargill says it will cease Russian grain shipments starting July 1.
Soybeans and wheat extended Monday’s gains overnight. Corn modestly pulled back but there was another daily old-crop corn export sale that could provide support during daytime trade.
Another daily old-crop corn export sale, this time two cargoes to unknown destinations.
Wheat and corn futures are expected to open higher after strength overnight despite negative outside markets. Soybeans are expected to trade lower after extending the sharp price drop overnight.
Grain and soy markets are expected to open with a firmer tone. Corn will be supported by bullish export news.
Grain and soy complex futures are expected to open solidly lower on followthrough selling after bears controlled overnight trade.
Corn, soybeans and wheat finished higher and near their session highs overnight, which should fuel followthrough buying this morning.
Unease with the global economy tied to the banking sector will weigh on grain and soy futures.
Grain and soy futures are expected to open higher. There was another daily corn sale to China.
Corn should be supported by strong weekly export sales and another daily sale to China.