Corn & soybeans followed plunging crude oil futures lower on Sunday night, but wheat surged to double-digit gains as European wheat prices ran to new contract highs.
Corn & wheat rallied on end-week short-covering, but soybeans were again lower on Friday. Weekly corn charts closed at a 43-month low, beans at a 11-month low & wheat at a 5-week low.
Corn is mixed & soybeans & wheat are lower on Thursday as traders react to the USDA Weekly Export Sales report & have continued concern about demand trends due to the coronavirus outbreak.
Grains are again weaker on demand worries, but trading above their morning lows as crude oil recovered & NOPA soybean crush proved record-large in March.
Grains are on the defensive on Tuesday as weather forecasts look more positive for planting & crop developing by next week & demand looks to remain depressed by COVID-19 events.
Grains & livestock futures were again on the defensive on Monday as weekly export inspections were below the pace needed to reach Thursday's USDA forecasts & demand worries weighed on most financial markets.
Corn was lower as traders reacted to disappointing weekly ethanol data, & soybeans & wehat were mixed on Wednesday morning as traders continued to position ahead of Thursday's WASDE revisions.
Corn & soybeans are higher, but wheat lower on Tuesday morning as short-covering provides support to the former, but weekly crop ratings weigh on wheat.
Grains followed crude oil lower on Sunday night following a miserable perforamance last week.
Grains have followed other asset classes lower on COVID-19 fears as the calendar turns to April.