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Soybean futures firmed amid corrective buying overnight, while wheat declined and corn chopped around unchanged.
Farmers’ sentiment for the second month in a row as attitudes toward current conditions and future expectations declined.
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Corn and soybeans favored the downside overnight, though wheat futures saw continued strength.
Corn and soybean futures failed to build on Monday’s gains and traded lower overnight, while wheat had a mixed tone.
Corn-for-ethanol use totaled 442.6 million bu. during August, according to USDA.
After the Bell | October 2, 2023 The grain complex saw short-covering efforts despite a surging U.S. dollar and crude oil weakness.
Weekly corn and soybean inspections are running 10.8% and 8.7% ahead of a year-ago, respectively. Meanwhile, wheat inspections are nearly 29% behind the same time last year.
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Corn and wheat futures are higher with soybeans under light selling pressure. Cattle futures are higher with lean hogs under pressure...
Corn and wheat saw corrective gains overnight, while soybeans saw followthrough selling.
Chart trends remained mostly unchanged from the previous week.
Corn and wheat futures traded higher on corrective buying overnight, while soybeans faced followthrough selling.
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After the Bell | September 29, 2023 USDA’s Quarterly Stocks Report extended early session selling, while a potential government shutdown heightened risk-off sentiment.
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Soybean stocks and wheat production came in higher than expected. Sept. 1 corn stocks were lower than anticipated.
USDA pegged Sept. 1 corn stocks at 1.361 billion bu., 68 million bu. lower than pre-report expectations and 16 million bu. lower than year-ago. Soybean stocks were above pre-report estimates by 26 mb.