CBOT grains are higher premarket after the slate of reports from the USDA Tuesday mostly confirmed estimates the USDA had already printed in previous WASDE reports. While the lack of surprises is sustaining prices this morning, grains are not expected to receive support for long, says Matt Zeller of StoneX. "Volume/enthusiasm looks weak to start the month of July," says Zeller in a note. "The bulls need a better fundamental story than that for a real bounce, but weather forecasts and thus yield potential look strong going forward." In premarket trading, corn rises 1.3%, soybeans are up 0.9%, and wheat is 1.6% higher. (kirk.maltais@wsj.com)
Dow Jones Newswires
Rallying in Grains May be Limited — Market Talk
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CBOT grains are higher premarket after the slate of reports from the USDA Tuesday mostly confirmed estimates the USDA had already printed in previous WASDE reports. While the lack of surprises is sustaining prices this morning, grains are not expected to receive support for long, says Matt Zeller o…