Strong gains in wheat led the corn market modestly higher overnight, while soybeans continued to struggle against technical resistance. Each saw increased selling into the break.
Corn and soybeans are expected to open under light pressure. Wheat is expected to be mixed, with SRW lower, while HRW and HRS futures are likely to open with a firmer tone.
Weekly soybean sales during the week ended March 28 missed the pre-report range, while corn sales landed below 1.0 MMT for the first time since mid-February. Shipments, however, reached a marketing-year high.
Corn, soybeans and wheat each traded in tight ranges during low volume trade overnight. Soybeans favored the upside and wheat favored the downside modestly into the break.
Weekly corn and wheat inspections each topped pre-report estimates for the week ended March 28, while soybeans missed the low-end pre-report estimate by 86,000 MT.
