First Thing Today
Corn, soybeans and wheat held in relatively tight trading ranges during a quiet overnight session.
Grain markets posted two-sided price action in relatively quiet overnight trade.
Front-month SRW wheat futures rallied to the highest price since early August during overnight trade, pulling corn and soybeans higher.
Grain and soy futures pulled back from Monday’s strong gains overnight, with soybeans and soyoil facing the heaviest pressure.
Wheat futures rebounded from the poor finish last Friday by posting strong gains during the overnight session. Corn and soybeans followed to the upside.
Grain futures are expected to open with a firmer tone after gains overnight. Key will be whether overnight price strength is maintained during daytime trade.
Soybeans firmed to near their weekly highs overnight, while corn and wheat recouped some of their declines from the three previous days.
Wheat rebounded from yesterday’s losses overnight, pulling corn and soybean futures modestly higher.
Corn, soybeans and wheat rebounded from Tuesday’s losses during the overnight session, led by gains in wheat.
Corn futures extended recent gains overnight, while soybeans and wheat eased after earlier attempts at the upside.