Soybeans Firm Up Overnight, Wheat Softens

Soybean futures continue to firm up into what may emerge as a consolidation phase overnight. It is still early to know, but soybean prices have been fairly flat for the past four trading days. Range trading may the be order of the day for the foreseeable future.

Wheat futures prices, on the other hand, have softened on light volume overnight. After the rapid run-up in wheat prices over the past few days, this is to be expected.