Wheat futures rebounded as Soybean and Corn futures declined.

Virginia McGathey analyzes the latest action in the grain markets, starting with a decline in Soybean futures as China shifts its import preference to Brazil. The sell-off broke major support levels as November contracts dropped significantly. Corn futures also faced downward pressure due to cooler temperatures and rain easing crop stress, though options activity remained highly active. Conversely, Wheat futures found firm support and rebounded from a recent 60-cent decline, driven by ongoing shipping uncertainties in the Black Sea region. McGathey also highlights the elevated CVOL levels across all three commodities.