Morning Calls & Comments (1.10.23)
Corn: Steady to 2 cents lower.
Soybeans: 6 to 12 cents lower.
Wheat: Winter wheat 12 to 18 cents lower; spring wheat 5 to 8 cents lower.
Heavier selling pressure was seen in grain and soy futures overnight, especially the soybean and winter wheat markets, after disappointing closes on Monday. We expect bears to maintain the strong upper hand during daytime trade. Outside markets are mixed this morning, with front-month crude oil futures modestly firmer and the U.S. dollar index nearly 500 points higher.