Wheat futures led the way higher overnight, as soybeans and corn both saw spillover strength. The increase in export demand has encouraged buyers of each market.
Corn futures continued to show relative strength overnight, soybeans saw corrective buying from recent selling and wheat futures saw profit taking, though each saw buying into the break.
Corn and soybeans favored the downside overnight, with soybeans leading the way lower. Both went into the break well off session lows. Wheat traded higher, continuing to show relative strength.
Corn mildly favored the upside overnight, fueled higher into the break by export sales coming in above expectations at a marketing year high, while wheat and soybeans were slightly lower.
Corn, soybeans and wheat each saw corrective buying overnight with soybeans leading the way higher. Corn and wheat continue to struggle garnering much bullish momentum despite both markets being oversold.
