Ahead of the Open
Corn and soybeans saw modest losses overnight following volatile trade on Thursday following the updated USDA reports, while wheat went into the break on session highs, modestly higher
Soybeans traded mostly higher overnight though sellers gained steam into the break, sending soybeans, corn and wheat into the break near session lows.
Soybeans surged overnight, leading corn slightly higher as well. Wheat saw action on both sides of unchanged but favored the downside into the break.
Corn saw followthrough buying overnight but saw some profit-taking into the break, soybeans faced mild corrective selling and wheat saw followthrough buying.
Corn traded on both sides of unchanged overnight, soybeans favored the upside but slipped into the break and wheat surged on the overnight open but has since faced corrective selling.
Corn, soybeans and wheat each favored the upside overnight, continuing to show relative strength. Soybeans will be further supported by this morning’s daily export announcement.
Soybeans favored the upside overnight, corn traded near unchanged for the most part and wheat futures favored the downside.
Corn, soybeans and wheat favored the upside on the overnight open but saw selling pressure as the session went on. Wheat held onto gains, but corn and soybeans went into the break near unchanged.
Corn, soybeans and wheat each saw followthrough buying overnight and were driven higher into the break by an export sales report had net sales topping expectations in each crop.
Corn and wheat traded in a tight range near unchanged overnight, while soybeans saw corrective gains. Trading is likely to remain largely positioning ahead of today’s USDA reports.
Corn, soybeans and wheat each favored the downside overnight, with wheat going into the break on session lows. Price action in grains is likely to be largely driven by positioning ahead of Thursday’s USDA reports.