Ahead of the Open
The grain and oilseed complex traded in a tight range overnight ahead of today’s USDA reports.
Grain price action was relatively subdued despite volatile outside markets overnight.
Winter wheat suffered a technical breakdown, trading lower
Funds remain on the sell side of the market, with soybeans closing lower for seven consecutive sessions.
Corn, soybeans and wheat each are trading lower this morning with corn and soybeans hitting a fresh for-the-move low.
Mexico steps in with a big corn purchase.
Sellers continue to ignore signs of surging demand as prices push lower, with corn, soy and wheat each trading near recent lows.
Soybeans continue to lead weakness while grains saw some consolidation overnight.
Corn, soybeans and wheat each favored the upside in overnight trade, but selling pressure toward the break pulled each off overnight highs.