Ahead of the Open
Trump lifts 40% tariff on Brazilian food imports, including beef
Corn, soybeans and wheat each favored the upside in overnight trade, rebounding from Wednesday losses.
Soybeans and corn saw modest selling pressure overnight while wheat saw relative strength.
Corn, soybeans and wheat each saw an extension of Monday’s gains early in the overnight session.
Soybeans led strength overnight, negating much of Friday’s selling pressure.
Wheat led strength overnight, breaking out of the recent sideways trend.
Soybeans led strength overnight and pushed to a fresh 17-month high, breaking above the recent sideways range.
Wheat saw relative weakness overnight while corn and soybeans did not stray far from unchanged.
Soybeans and Kansas City wheat saw the most losses