First Thing Today
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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Wheat futures extended Wednesday’s losses overnight. Corn and soybeans posted two-sided trade, with corn weaker and soybeans firmer early this morning.
Corn futures faced light followthrough selling in overnight trade, while soybeans firmed. Wheat futures are mixed to mostly firmer this morning.
Overnight price action in the grain and soy markets was quiet and choppy.