Corn May Take Leadership Role as Grains Trade Mixed Overnight

Grain futures were mixed overnight in the United States, according to Pro Farmer. At 6:00 a.m. CDT, December corn was down 2 3/4 cents, while November soybeans were 1/2 cent higher.

The August USDA reports on Wednesday offered an upside acreage surprise and below-expectation ending stocks for both old- and new-crop corn, creating a price-friendly corn picture with strong demand outlook.

For corn bulls to gain momentum, they need to show important follow-through buying strength this week. Today's weekly USDA export sales report will provide insight into the grain market.