First Thing Today
Soybeans’ attempt at a corrective rebound overnight proved futile and the market is under pressure this morning. Corn futures traded both sides of unchanged, while wheat firmed overnight.
Corn futures built on Wednesday’s corrective gains overnight, while soybeans and wheat bounced after recent losses.
Bears controlled price action overnight, with corn, soybean and wheat futures trading solidly lower and near their session lows this morning.
Light corrective buying has surfaced in some of the grain and soy futures early this morning after they faced pressure for much of overnight trade.
Bears controlled price action in the grain and soy markets overnight amid ongoing macroeconomic unease.
Corn, soybeans and wheat were supported by corrective buying and outside markets overnight.
Corn futures pivoted around unchanged in quiet overnight trade while soybeans were supported by corrective buying and wheat pulled back from gains earlier this week.
After trading higher earlier in the overnight session, corn, soybeans and wheat have turned mostly lower early this morning.
Corn and soybeans faced followthrough selling overnight, while the wheat market pulled back from Monday’s corrective gains.
Grain and soy futures favored the downside overnight as anxiety with the U.S. banking situation triggered general risk aversion.