Grains Modestly Higher in Overnight Trading

Corn, soybeans, and wheat are all higher after light overnight trading. This is the overnight chart for wheat.

Soybean prices yesterday failed to break through the Upper Bollinger Band on the daily chart, a key resistance level. However, prices haven't closed below the Exponential Moving Average, either. It remains to be seen whether this will occur. This is a key inflection point for soybeans, but it will undoubtedly be driven by weather-related news.