First Thing Today
Despite sharper-than-expected declines in corn and soybean crop condition ratings, those markets traded sharply lower overnight amid forecasts for improved rain chances. Wheat also traded sharply lower overnight.
Wheat futures posted strong gains overnight amid global supply concerns given the political instability in Russia. Soybeans have firmed this morning while corn is mixed.
Corn and soybean futures faced active followthrough selling amid forecasts calling for improved rain chances for the Corn Belt. Wheat futures actively followed to the downside.
Corn, soybean and wheat futures pulled back from recent strong gains overnight, while soyoil faced heavy followthrough selling after yesterday’s limit-down performance.
Plunging crop condition ratings and dryness concerns fueled strong gains in corn, soybean and spring wheat futures overnight. Winter wheat futures actively followed to the upside.
Corn, soybean and wheat futures traded higher early in the overnight session but faded and are lower this morning.
Corn, soybean and wheat futures built on Thursday’s strong gains during overnight trade amid heightened crop concerns.
Mounting weather concerns supported corn and soybean futures overnight, while wheat followed to the upside.
Corn and soybeans pulled back from their recent gains during overnight trade. Wheat was led lower by HRW contracts amid increased harvest activity.
Corn and soybeans were supported overnight by the bigger-than-expected declines in crop condition ratings, while wheat faced price pressure.