Ahead of the Open
Strong gains in wheat led to modest gains in corn overnight, while soybeans continue to see relative weakness. Each saw an increase in buying activity into the break.
Corn, soybeans and wheat each posted corrective gains overnight on light volume. Key will be if buyers can maintain gains after the open, which has brought selling pressure all week.
Corn and soybeans saw modest corrective buying overnight, while wheat saw continued selling pressure. The key for corn and soy will be strength on this morning’s open, as selling on the open has been the norm this week.
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 limited volatility overnight, trading in relatively narrow ranges on both sides of unchanged.
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.
Soybeans led weakness overnight though corn, soybeans and wheat each pulled back from Monday’s gains. Each saw light volume overnight.
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.