After weaker trade early in the overnight session, modest corrective buying gradually built in corn and soybeans, while wheat is narrowly mixed this morning.
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.
State-level winter wheat condition ratings signaled more general improvement in the HRW crop over the past month, despite a minor downtick in top producer Kansas.
Soybeans extended their recent corrective gains during the overnight session, while wheat traded lower and corn favored the downside in two-sided trade.
Soybean futures retreated from Tuesday’s gains during overnight trade, while the corn and wheat markets have weakened after two-sided price action earlier in the session.