Grains were mixed ahead of USDA's Prospective Planting & Grains Stocks reports as traders positioned for the data..
Grains are once again on the defensive on Monday as traders position for Tuesday's USDA reports & react to a renewed downdraft in crude oil prices.
Grains have been on the defensive on Thursday despite strong weekly export sales data.
Grains faded after a higher start on Wednesday, but wheat maintained solid gains.
Corn was mixed on demand worries, but beans & wheat were sharply higher on Monday on export hopes. Monday's export inspections did not support that optimism. Grains were on the defensive on Monday night as equity markets recovered, & money flow was siphoned away from grains.
Corn was mixed, but soybeans & wheat were higher on Friday as traders reacted to crude oil & export prospects. Those trends continued on Sunday night with markets gaining strength late in the session after the US Federal Reserve & the US Treasury announced broad packages to fight the economic losses caused by the fight against the COVID-19 outbreak.
Grains rebounded along with crude oil on Thursday as traders took profits on recent sales.
Corn & wheat closed mixed on Friday, but protein markets slide on demand fears. For the week, grains, livestock, & most other financial markets suffered losses. Outside markets were lower ahead of Sunday night's grain trading.
Grains are captive to outside markets, plunging on both Wednesday & Thursday in concert with weakness in global equity & crude oil markets.
Grains followed outside markets lower on Monday, & rebounded along with those markets as Tuesday trading restarted.