Ahead of the Open
Corn, soybeans and wheat are expected to open higher. Weekly sales were strong for corn, at the lower end of expectations for soybeans and poor for wheat.
Mixed, two-sided price action is likely in grain and soy futures to kick off the new month.
We expect followthrough selling from overnight trade to be seen in the grain and soy markets this morning. Key will be whether funds actively liquidate long positions or view the pullback as a fresh buying opportunity.
Grain and soy markets are expected to see followthrough buying from price gains overnight amid weather concerns.
Corn, soybeans and wheat dropped at the end of the overnight session, prompting calls for a weaker start this morning.
Corn, soybeans and wheat are expected to open with a firmer tone on followthrough from overnight gains, along with supportive weekly export sales data and strength in crude oil.
Soybeans are expected to open weaker, with wheat firmer and corn near unchanged.
Grain and soybean futures are expected to trade higher amid corrective buying following Monday’s sharp losses.
Soybeans will lead grain and soy markets lower on pressure from beneficial rains across Argentina late last week and during the weekend.
Grain and soybean futures are expected to open with a mostly weaker tone this morning, though supportive export demand data could trigger buyer interest.