First Thing Today
Wheat futures firmed overnight, while soybeans faced mild selling pressure and corn was caught in the middle.
Indonesian officials clarify palm oil export ban
Chinese central bank governor stresses price stability
Soybeans were also slightly lower overnight, pulling back from Tuesday’s gains.
A mildly weaker tone has developed this morning after quiet trade overnight.
Soybeans, along with soyoil, led price strength in the grain and soy complex overnight.
Grain and soy futures found followthrough buying overnight, supported in part by outside markets.
Soybeans pulled back overnight from the corrective gains late last week. Corn and wheat didn’t stray far from unchanged.
Corn, soybean and winter wheat futures extended Thursday’s corrective gains overnight, while HRS futures posted new contract highs for the sixth time in the last eight trading sessions.
China raises minimum purchasing price for wheat for first time since 2014. Attaché lowers forecast for Argentine soybean plantings. Is inflation transitory or structural? UAW has called a strike against Deere & Co.