Ahead of the Open
Corn bulls have shown impressive resilience the past couple of days in the wake of Tuesday’s USDA Crop Production Report.
Net sales reductions for old-crop corn and soybeans were rather disappointing today as traders and analysts alike are looking for old-crop exports to end the year strong.
Soybeans are pulling corn and wheat higher.
Corn, soybeans and wheat each favored the downside in overnight trade, giving up a significant chunk of Monday’s gains.
Soybeans surged higher overnight, supported by Trump encouraging China to increases purchases of U.S. soybeans.
Grains saw a solid rebound overnight that was bolstered by stronger than expected export sales this morning, which pulled soybeans higher as well.