First Thing Today
Overnight price action was two-sided and relatively quiet, though corn, soybeans and winter wheat all lower and near session lows this morning.
Two-sided trade was seen in the grain and soy markets overnight, with corn and wheat firmer this morning while soybeans is modestly weaker.
Corn, soybean and wheat futures faced heavy pressure overnight after initially trying to work to the upside.
Corn, soybean and wheat futures gapped sharply higher at the start of overnight trade. While prices remain sharply higher, futures are trading low range this morning.
Corn and wheat futures built on Thursday’s strong corrective gains during overnight trade. Soybeans traded higher initially but failed to sustain the firmer tone.
Corn, soybean and wheat futures traded sharply higher overnight as markets rebounded from recent hefty losses.
Corn futures traded lower for much of the overnight session but are mildly firmer this morning, while soybeans and wheat are showing stronger corrective gains following Tuesday’s sharp losses.
Grain markets didn’t trade overnight and will resume trade at 8:30 a.m. CT. The U.S. dollar surged more than 1,000 points higher, making a new for-the-move high overnight.
Corn and wheat futures worked mildly higher overnight following Thursday’s sharp losses. Soybeans extended yesterday’s sharp loses.
Corn and wheat futures (aside from HRW) extended Wednesday’s losses overnight, while soybeans pulled back from recent gains.