Winter wheat futures led strong followthrough buying in the grain and soy markets overnight amid lower-than-expected U.S. crop ratings and global supply concerns.
Wheat futures are trading sharply higher this morning, while soybeans and the soy product markets are lower on followthorugh selling. Corn is caught in the middle.
Corn and soy complex futures posted modest corrective gains overnight. Wheat futures were weaker for most of the overnight session but have turned mixed early this morning.
Wheat futures led overnight price declines. Despite the heavy pressure, wheat and corn futures remained within their recent sideways trading ranges, while soybeans stayed within their choppy to higher range.
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.
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.
Volatility was reduced from recent days in grain and soy complex futures overnight, as corn, soybeans and wheat all traded within relatively tight ranges compared to recent standards.
Wheat futures gapped lower overnight after limit-down closes on Wednesday and sharply extended losses. But wheat filled the gaps and is trading higher this morning, as are corn and soybeans.
The most actively traded winter wheat contracts are up their new 85-cent daily trading limit, while May and July spring wheat futures are up their 60-cent limit. Corn and soy complex futures are also sharply higher.
Winter wheat futures locked up their 75-cent daily trading limit overnight, while spring wheat rose its 60-cent limit. Corn traded sharply higher, while soybeans posted just slight gains.
May contracts for all three wheat markets topped $11 overnight, though HRS futures have since retreated below that level. Soybeans are firmer, while corn is mostly higher this morning.
Winter wheat futures are sharply higher this morning in followthrough buying, though well off their overnight highs. Spring wheat is mixed, while corn and soybeans are lower.
Winter wheat futures surged above last week’s highs amid disruptions to Black Sea wheat exports. May corn futures traded near their highs, while soybeans and spring wheat remained well below last week’s peaks.
Corn and wheat futures are trading limit up in most contracts, while soybeans are sharply higher in reaction to Russia's invasion of Ukraine. Front-month U.S. crude oil futures are nearly $7 higher.
Grain and energy markets had a big price response overnight to escalating tensions between Russia and Ukraine as U.S. markets reopened following the three-day weekend.
Old-crop soybeans poked above $16 overnight, but key is whether there’s sustained buying above that level – something that hasn’t happened the two previous times.
Soybeans extended Monday’s declines overnight, while the winter wheat markets were pressured by an apparent easing of tensions between Russia and Ukraine. Corn followed the other two markets lower.
Soybeans started firmer overnight but buyer interest dried up and selling pressure mounted, with futures near session lows this morning. Corn followed soybeans lower, while wheat mildly firmed.
Soybeans are higher this morning after there was limited followthrough selling from Thursday’s poor closes early in the overnight session. Corn and wheat are following soybeans higher.
Soybeans were pressured by profit-taking and corrective selling overnight, while the corn and wheat markets faced followthrough selling to Wednesday’s losses.
Soybeans posted new highs overnight, with the March contract topping $15.60 amid a continued price surge tied to South American crop losses and speculative buying. Corn and wheat modestly followed higher.
Wheat futures failed to find followthrough selling overnight after a bearish outside day down on Monday, which triggered light corrective buying. Corn also mildly rebounded overnight, while soybeans paused.
Soybean futures posted another round of contract highs overnight, with the front-month contract reaching the highest level since June 2021 on the continuation chart. Corn and wheat followed soybeans higher.
