First Thing Today
Outside markets weighed heavily on the grain and soy complex overnight as the U.S. dollar strengthened to a fresh 20-year high and front-month crude oil dropped to near $80.00.
Winter wheat markets and corn futures are mildly favoring the downside after two-sided trade overnight, while soybeans and spring wheat are mixed.
Wheat futures led a round of followthrough buying overnight as tensions between Russia and the West escalated.
Corn futures mildly built on Monday’s gains overnight, while wheat recouped a small portion of yesterday’s losses and soybeans pulled back.
Heavy pressure on the wheat market pulled corn lower overnight, while soybeans posted two-sided trade.
Corn, soybean and wheat futures extended price losses from earlier in the week duringovernight trade.
Corn and soybeans mildly rebounded overnight from losses the two previous days, while wheat pulled back from recent gains.
Soybeans and wheat favored the upside is quiet, two-sided trade overnight, while corn faced light selling pressure.
Soybean futures built on Monday’s strong gains overnight, while wheat rebounded from yesterday’s losses and corn favored the upside is light, two-sided trade.
Quiet, two-sided trade was seen overnight as traders awaited USDA’s reports later this morning.