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Corn and soybeans underwent heavy selling pressure throughout the session, despite corrective buying in the wheat and cotton markets. Livestock fell under pressure as well, as cattle saw selling and hogs continue to fall
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Corn, soybeans and wheat each favored the downside overnight, with soybeans leading the way lower.
Soybeans erased Monday’s gains during overnight trade, while corn and the winter wheat markets faced mild followthrough selling.
Soybeans showed impressive strength throughout the session despite weakness in corn, wheat and cotton. Live cattle futures made multi-week highs though faded into the close. Hogs traded around unchanged.
Wheat inspections were near the middle of the expected range.
Wheat futures are under pressure with corn and soybeans choppy. Cattle futures are extending last week’s gains with lean hogs choppy to start the week…
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Corn traded narrowly to the downside overnight, soybeans traded lower early but went into the break nearer session highs, while wheat saw sustained selling pressure.