Ahead of the Open
The grain and soy complex saw consolidation overnight.
Corn continues to lead strength with wheat and soybeans following to the upside.
Grains saw modest strength overnight while soybeans continue to fall under modest selling pressure.
Soybeans and corn saw modest strength overnight on corrective buying while wheat favored the downside.
Soybeans led weakness overnight amid concerns over China’s absence from the U.S. market following a meeting between the countries officials this weekend.
After showing relative weakness most of this week, wheat led strength overnight, challenging the psychological $6.00 mark.
Corn, soybeans and wheat continue to trend higher on the daily bar chart with corn and beans closing in on Monday’s highs.
Corn, soybeans and wheat surged higher overnight in a continuation of the ongoing uptrends.
Big swings in crude oil futures are dictating trade in the grain and soy complex.
The grain and oilseed surged higher early in the overnight session but have since fell well off session highs.