Grains dipped lower overnight as the prospect of a big South American harvest looms over the complex. In outside markets, crude oil rallied into the mid-$54 mark ahead of fresh data from EIA on crude stocks.
Soybeans posted modest gains overnight trying to recover some of yesterday’s losses while wheat and corn were mostly stable. In outside markets the US dollar and crude oil were extending their gains from yesterday.
Soybeans continued to strengthen overnight while corn and wheat slipped lower following yesterday’s positive gains. In outside markets crude oil continued to slip lower hitting its lowest mark since December.