Corn, soybeans and wheat each favored the downside overnight in a continuation of Tuesday’s weakness. Prices are nearing the lower end of the recent sideways trading range in each crop.
Wheat led strength overnight, soybeans led to the downside and corn was caught in the middle, though each faced increased selling pressure into the break.
Corn, soybeans and wheat each saw an increase of buying interest this morning, with corn leading the way higher. Wheat saw relative weakness but went into the break well off session lows.
Wheat led strength overnight though went into the break well off session highs, corn and soybeans followed suit, posting early overnight gains but weakening into the break.
Strong gains in wheat led corn and soybeans higher overnight. Wheat maintaining overnight gains will be key as the recent trend has been overnight strength followed by weakness after the open.
Corn futures showed relative strength overnight though saw increased selling into the break, while soybeans and wheat each traded lower most of the overnight session.
