First Thing Today
Wheat futures gapped higher overnight but reversed lower and are under heavy pressure this morning. Corn and soybeans also traded lower.
Wheat gapped higher, with HRW and HRS futures moving to new contract highs after India’s ban on wheat exports. Corn and soybeans also posted strong gains.
Spring wheat futures built on Thursday’s limit-up performance overnight, while corn and soybeans also traded higher. Winter wheat futures eased a bit from yesterday’s strong gains.
Soybeans and wheat pulled back from Wednesday’s gains, while corn was mostly firmer overnight. Trade was quiet as traders await USDA’s May crop reports later this morning.
Corn, soybean and wheat futures built on Tuesday’s gains overnight amid supportive outside markets.
Corn, soybean and SRW wheat futures recouped a portion of Monday’s losses overnight. HRW and HRS futures firmed more than they lost yesterday.
Wheat futures extended last week’s gains overnight amid crop concerns, while the corn and soybean markets were pressured by improved weather.
Wheat futures took back some of Thursday’s strong gains overnight. Soybeans and corn more than erased yesterday’s gains, with corn scoring new lows for the week.
Wheat futures led price gains overnight amid active followthrough buying to yesterday’s strong gains. Corn and soybeans followed wheat higher.
Trade was relatively light in the grain and soy markets for much of the overnight session, but buyer interest has picked up early this morning.