First Thing Today
Corn and soybean futures pulled back from gains earlier this week, while wheat futures extended this week’s declines.
Soybeans and wheat are pulling support from outside markets, while corn is mildly favoring the downside.
Corn and wheat futures traded solidly higher overnight, while soybeans favored the upside in two-sided trade.
Wheat futures were supported overnight by Black Sea supply concerns as Russia was set to annex four regions of Ukraine. Corn and soybeans followed wheat higher.
Wheat futures firmed overnight, while soybeans faced mild selling pressure and corn was caught in the middle.
Corrective buying was seen in the grain and soy complex overnight as the U.S. dollar pulled back and crude oil firmed.
Outside markets and global economic concerns weighed on grain and soy markets overnight.
Outside markets weighed heavily on the grain and soy complex overnight as the U.S. dollar strengthened to a fresh 20-year high and front-month crude oil dropped to near $80.00.
Winter wheat markets and corn futures are mildly favoring the downside after two-sided trade overnight, while soybeans and spring wheat are mixed.
Wheat futures led a round of followthrough buying overnight as tensions between Russia and the West escalated.