The overnight session was a yawner and Thursday morning’s trading at first appeared to follow. However, about an hour and a half in, suddenly corn and soybeans caught a head of steam, even as the wheat market stayed mostly submerged all session. The latter likely due to expectations that both domestic and global carryout will be increased in tomorrow’s USDA WASDE report.  There was large volume at play today as corn and soybeans both gained for a fourth session in a row. In fact, July soybeans hit another contract high. While corn and soybeans were the leaders on strong demand, both retrenched somewhat later in the session. Still, basis levels are very firm and provide support to nearby futures, including bull spreading in...

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