Grain and soy futures traded quietly overnight with little fresh direction, and prices were mostly a bit higher. Much of the selling seemed to be liquidation of presumably profitable long positions. New short positions just ahead of Friday’s WASDE would require that the sellers have strong contrarian views given expectations for a generally bullish report. Trading continued to be subdued during the day session, but prices stayed in the green zone and closed with mostly small gains. There were some exceptions, though, for which gains were not so small. Forecasts for dry and very hot weather over the northern Plains were considered stressful for unharvested U.S. crops in the area and for Canadian crops in the western Prairies. MGEX HRS...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, Livestock, Biofuels, Equities, Energy