First Thing Today
Grain and soybean futures mildly extended Thursday’s losses in relatively quiet overnight trade.
Grain and soy markets faced price pressure overnight and are trading near session lows this morning.
Corn, soybean and wheat futures held within Tuesday’s price ranges overnight in relatively quiet trade that has markets trading higher and near session highs this morning.
Global supply concerns amid the ongoing war between Russia and Ukraine fueled active followthrough buying in grain and soy markets overnight, led by winter wheat.
Bulls controlled overnight trade in the grain and soy complex amid global supply concerns as Russia’s invasion of Ukraine is showing no signs of letting up or ending anytime soon.
Wheat futures pulled back from yesterday’s gains overnight as back-and-forth price action continued. Corn followed wheat lower, while soybeans firmed.
Corn and soybeans firmed after failing to take out Wednesday’s lows overnight. Wheat futures gapped lower but rebounded to fill the gaps and are trading mostly firmer this morning.
Wheat futures traded sharply lower overnight, which pulled the corn market lower. Soybeans, along with meal and soyoil traded higher.
Wheat futures traded higher but have come well off their overnight highs this morning, while corn and soybeans faced followthrough selling.
Corn, soybeans and wheat are weaker this morning and trading near session lows. Soyoil futures are under heavy pressure, but soymeal is firmer.