Dry Argentina weather lifts soy prices

Overnight trends:

• Corn: Steady
• Soybeans: Up 13 to 14 cents
• Wheat: Narrowly mixed

***price snapshot as of 6:50 a.m. CST***

Grain market action was mostly muted overnight – mostly typical of the week between Christmas and New Year’s. However, soybeans still took the opportunity to test double digit gains heading into Wednesday’s session as traders keep watching dry conditions develop in Argentina, and as travel restrictions continue to ease in China. Corn and wheat prices weren’t able to move the needle much in either direction last night but generally were down slightly.

Overseas stock markets were mixed again on Wednesday. The Hang Seng market in Hong Kong jumped 1.5% higher while other Asian markets were down moderately today. European markets were generally narrowly mixed in midday trading. In the U.S., Dow futures tested gains of 104 points, moving to 33,521. Southwest…