The CBOT ag markets spent most of Tuesday preparing for the coming February WASDE report with funds and commercials adjusting positions. Wheat futures saw mild strength amid their relentless grid sideways while the soy complex found some upside traction in follow-through trade from Monday’s bullish reversals. Still, bulls were not willing to extend much risk in the soy complex ahead of the report, with Brazil’s harvest going well and U.S. exports down 25 percent YTD. Corn futures were perhaps the most dramatic grain commodity for the day as stiff selling pressure emerged at the open and knocked futures lower again at the close. The day’s trade seems to indicate that traders are increasingly bearish corn, despite relatively...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, Livestock, China, North America, South America