First Thing Today
The corn, soybean and winter wheat markets built on Tuesday’s strong gains overnight, while spring wheat firmed after small losses yesterday.
Corn and wheat futures posted strong gains on corrective buying overnight, while soybeans sharply extended Monday’s gains.
Corn futures traded lower throughout the overnight session, while soybeans and wheat rebounded from initial losses.
Grain futures rebound from sharp losses, big banks pass Fed stress tests, U.S. beef supplies up sharply.
Mounting recessionary concerns triggered heavy liquidation pressure in the grain and soy markets overnight.
Wheat was supported by corrective buying overnight though futures are well off the highs this morning. Soybeans faced active followthrough selling, while corn was modestly lower.
Grain and soy complex futures are under solid pressure coming out of the holiday weekend, led lower by sharp losses in soyoil.
Corn and soybean futures saw active followthrough buying overnight after strong gains Thursday, while the wheat market was quiet in two-sided trade.
Corn futures mildly built on Wednesday’s gains overnight, while soybeans and wheat traded mixed.
Corn and wheat futures extended Tuesday’s losses overnight, while the soybean market traded mixed.