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Cash soybean meal price tops $500 for the first time since August.

Cash hog prices show signs of a seasonal low.

The data failed to move markets much from where they were trading ahead of USDA's reports.

USDA reported ending stocks for corn, soybeans and wheat higher than pre-report estimates.

The mostly firmer tone overnight is expected to carry over to daytime trade as traders await USDA's reports later this morning.

Grain and soy futures traded solidly higher overnight, led by old-crop soybeans.

After the Bell |February 7, 2023

USDA forecasts net farm income will decline $25.9 billion (15.9%) from last year to $136.9 billion, driven partly by an expected $5.4 billion (34.4%) drop in direct government payments.

Farmer sentiment was up 11 points (9%) from year in January, according to the Purdue University/CME Group Ag Economy Barometer.

Rather directionless trade is expected this morning as traders prepare for Wednesday's USDA reports.

Soybean futures recouped a portion of Monday’s losses overnight, while the corn market gave back yesterday’s gains and wheat futures showed a mixed tone.

The focus for the U.S. balance sheets will be the usage forecast, while the global focus will be on production.

Although soybean export inspections were down over 100,00 MT from the previous week, they continue to prove consistent. Wheat inspections topped pre-report expectations, while corn landed just above the low-end estimate.

Mixed trade is expected in the grain and soy markets this morning as traders monitor the U.S./China situation and prepare for USDA's February crop reports on Wednesday.

Short-term trend turns bullish for live cattle and feeder cattle.

Corn and soybean futures are weaker this morning after two-sided trade earlier in the overnight session, while wheat futures are narrowly mixed.

After the Bell | February 3, 2023

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Grain and soy futures traded lower overnight, with late pressure from a surge in the U.S. dollar after the much stronger-than-expected January jobs data. We expect the weaker tone to continue early this morning.

Soybeans extended Thursday’s gains in overnight trade, while the corn and wheat markets faced pressure.

After the Bell | February 2, 2023

Our updated monthly and quarterly price forecasts, including the initial look at the third quarter.

Corn, soybeans and wheat are expected to open higher. Weekly sales were strong for corn, at the lower end of expectations for soybeans and poor for wheat.

Export sales for week ended Jan. 26 showed corn sales of 1.593 MMT, notably above top-end estimates of 1.2 MMT. Soybean sales were just above low-end estimates of 700,000 MT, while wheat fell short by over 163,000 MT.

Soy complex futures traded higher overnight, while wheat favored the upside and corn faded to a mixed tone this morning.

Basis firmed for both corn and soybeans even as cash prices rose.

After the Bell | February 1, 2023

Mixed, two-sided price action is likely in grain and soy futures to kick off the new month.

Soybeans modestly built on Tuesday’s gains overnight, while corn extended yesterday’s losses and wheat pulled back in overnight trade.

The beef cow herd was the smallest since 1962.

After the Bell | January 31, 2023

We expect followthrough selling from overnight trade to be seen in the grain and soy markets this morning. Key will be whether funds actively liquidate long positions or view the pullback as a fresh buying opportunity.

Grain and soy complex futures traded lower overnight amid corrective selling and pressure from outside markets.

Individual state crop conditions ratings showed further deterioration of the HRW wheat crop during January.

After the Bell | January 30, 2023

Weekly export inspections for week ended Jan. 26, showed corn inspections 200,860 MT below the previous week, missing low-end estimates by over 70,000 MT. Wheat and soybean export inspections were each notable.

Grain and soy markets are expected to see followthrough buying from price gains overnight amid weather concerns.

Short-term trend turns bullish for corn.

Grain and soy futures opened the week with solid gains, led by sharp advances in soybeans.

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Corn, soybeans and wheat dropped at the end of the overnight session, prompting calls for a weaker start this morning.

Corn and soybeans posted two-sided trade in light overnight price action, while wheat faded.

Cash hog prices extend seasonal decline to nearly $7 below year-ago.

Corn, soybeans and wheat are expected to open with a firmer tone on followthrough from overnight gains, along with supportive weekly export sales data and strength in crude oil.

USDA's weekly export data for week ended Jan. 19 showed wheat sales up 6% from the previous week and 84% from the prior four-week average. Net soybean sales were up 53% from the four-week average, while corn was up 46%.

Soybeans and wheat built on Wednesday’s gains during the overnight session, while corn rebounded from yesterday’s modest declines.

Cash hog prices continued their extended seasonal decline.

Beef stocks rose more than average during December, while pork stocks increased versus the normal small drawdown in inventories during the month.

USDA’s food price outlook data and forecasting methodology were revised this month.

Soybeans are expected to open weaker, with wheat firmer and corn near unchanged.