First Thing Today
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.
Corn futures are firmer, soybeans are weaker and wheat is mixed this morning following two-sided trade overnight.
Bears took firm control of price action in the grain and soy markets amid risk aversion overnight as traders returned from the weekend.
Soybean futures gained more overnight than they lost on Thursday, making new highs for the week. Wheat and corn also firmed.
Old-crop corn futures posted new contract highs overnight, while December corn came with 1/2 cent of its high. Wheat was also firmer, while soybean were mixed.
Soybeans and soyoil extended gains overnight, while corn and wheat are trading lower this morning after two-sided overnight trade.
Corn and spring wheat futures extended Monday’s gains overnight amid planting delays concerns. Soybeans and winter wheat rebounded from Monday’s losses.
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