First Thing Today
Corn and soybean futures pulled back overnight from strong gains earlier this week. Wheat also traded lower.
Soybean futures scored new contract highs amid strong followthrough buying overnight. Corn and wheat futures also firmed.
Grain and soy futures rallied sharply overnight amid renewed global supply concerns, led by the wheat market.
Two-sided trade was seen in grain and soy futures overnight, but markets are softening this morning, led lower by soybeans and soyoil.
Corn and wheat futures posted corrective gains overnight after sharp losses Wednesday, while soybeans built on yesterday’s gains.
Two-sided trade was seen overnight, with wheat and soybeans firmer amid corrective buying this morning, while corn is trading just below unchanged.
Wheat futures faced heavy pressure coming out of the extended weekend, which pulled corn lower. Soybeans were firmer overnight.
Trading ranges were much tighter overnight than recent days in corn, soybean and wheat futures.
Wheat and corn futures faced heavy selling pressure overnight but remained above Wednesday’s lows. Selling in soybeans was lighter.
Spring wheat futures led gains in the wheat markets overnight as planting progress fell shy of expectations. Soybeans firmed, while corn traded slightly lower overnight.