First Thing Today
Corn and soybeans tried to work higher on corrective buying at points overnight but favorable weather and trade uncertainties kept buyer interest limited.
Favorable weather, trade uncertainties continue to weigh on grains.
Favorable weather triggered an active round of selling in grains to kick off trade after the holiday weekend.
Corn futures faced followthrough selling overnight, though remaining above Tuesday’s contract lows.
Corn conditions unexpectedly improved to the highest rating for this time of year since 2018.
Corn, soybeans and wheat traded on both sides of unchanged in a relatively light overnight session as traders await USDA’s reports later this morning.
All three markets are poised for sharp losses for the week.
U.S. dollar index falls to lowest level since February as President Trump eyes early Fed chair announcement.
Corn futures posted contract lows amid continued selling.
Oil prices extended Monday’s sharp retreat as fears of supply disruptions from the Middle East conflict eased.