Two-sided trade was seen in a relatively quiet overnight session, but corn, soybeans and wheat are firmer and near their session highs this morning.
Mounting recessionary concerns triggered heavy liquidation pressure in the grain and soy markets overnight.
Wheat was supported by corrective buying overnight though futures are well off the highs this morning. Soybeans faced active followthrough selling, while corn was modestly lower.
Grain and soy complex futures are under solid pressure coming out of the holiday weekend, led lower by sharp losses in soyoil.
Corn and soybean futures saw active followthrough buying overnight after strong gains Thursday, while the wheat market was quiet in two-sided trade.
Corn futures mildly built on Wednesday’s gains overnight, while soybeans and wheat traded mixed.
Corn and wheat futures extended Tuesday’s losses overnight, while the soybean market traded mixed.
Soybeans rebounded some from Monday’s sharp losses, while corn and wheat traded lower overnight but held above yesterday’s lows.
Soybean futures extended last Friday’s price pressure overnight, while corn and wheat favored the upside amid two-sided trade.