Corn and soybeans saw corrective buying most of the overnight session, though sellers resurfaced into the break. Wheat futures continue to fall under heavy selling pressure.
Selling persisted throughout the grain market overnight as corn, soybeans and wheat continue to trade on recent lows. Persistent impressive sales and falling projected acres did little to boost corn prices.
Corn and soybeans saw corrective gains overnight though saw increased selling into the break. Wheat favored the downside, though went into the break near unchanged.
Soybeans continue to lead weakness, giving up all of Thursday’s gains overnight, while corn followed to the downside. Wheat futures saw modest corrective gains overnight.
Corn futures fell to contract lows overnight, leading soybeans and wheat lower as well. Traders await Thursday’s USDA reports, which will give a fresh look into South American crop estimates and U.S. balance sheets.
