Corn, Soybean Futures Under Pressure Amid Market Challenges

Corn and soybean futures are under pressure as markets face various challenges. Corn is mostly five to six cents lower, but holding an inside range at midsession. The USDA reported daily sales of 218,600 MT of corn to Mexico, with the majority going towards the 2026-27 crop year.

The Group of Seven nations and its partners are releasing as much as 100 million barrels of emergency oil and diesel stocks amid rising fuel prices. This move is being coordinated by the International Energy Agency and will take place over the next four months, according to France's President Emmanuel Macron.

Soybeans are weaker for the third straight session, but support from the 40-day moving average is curbing seller interest. Rainfall in Brazil will eventually support more aggressive planting in the center-west region, although southern Brazil may experience delays due to wet conditions.