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Corn, soybean and wheat futures gave back part of Wednesday's gains in overnight trade, with corn 2 to 3 cents lower, soybeans 4 to 6 cents lower, and HRW wheat 8 to 9 cents lower by 6:30 a.m. CT.
The U.S. dollar index was more than 150 points lower and crude oil was roughly unchanged. Traders also weighed the Federal Reserve's final rate hike and signaled pause, which analysts said points toward eventual rate cuts.
Overnight declines follow a strong prior session and reflect routine profit-taking, with a weaker dollar offering only partial support. The Fed pause outlook is a secondary factor for grain prices through its effect on the dollar and economic growth.
profarmer.comBrian GreteMay 4, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
