Corn, soybeans and wheat each saw corrective buying overnight, though each faded into the break. Soybeans continue to show relative strength, despite mixed outside markets.
Ag economists’ view on the ag economy is starting to erode. The September Ag Economists’ Monthly Monitor shows lower commodity prices, concerns about demand and a negative outlook for China’s economy.
After the Bell | September 26, 2023
"Risk off" trade limited upside in the grain/soy complexes ahead of a potential government shutdown and persisting strength in the U.S. dollar.
Bipartisan Senate group working to pass short-term funding measure, recent rains come too late to benefit U.S. crops and Russia continues to pummel Ukraine port infrastructure...
Soybeans and wheat saw gains into the break but are well off overnight highs, corn saw slight losses most of the night after condition data came in better than expected.
After the Bell | September 25, 2023
SRW wheat strength led the grain complex higher into the close. Soybeans found support from meal futures, though soyoil weakness capped gains.
USDA reported inspections for corn, soybeans and wheat within trade expectations. Corn inspections remain steadily ahead of year-ago, while soybeans went from notably trailing year-ago to running ahead.
After the Bell | September 21, 2023
Commodities faced risk-off selling amid U.S. dollar strength from a more hawkish tone following this week's FOMC meeting.
Weekly soybean sales for week ended Sept. 14, were reported at 434,100 MT, short , over 100,000 MT shy of the low-end pre-report estimate, while weekly corn and wheat sales landed just above the low-end estimate.
Grains saw followthrough buying from Tuesday’s lows overnight and went into the break higher, though recent volatility is likely to continue after the open.
Weekly corn inspections totaled 642,095 MT, up 16,851 MT from the previous week and are running 10.5% ahead of year-ago, while soybean inspections totaled 393,004 MT and are trailing year-ago by 16.2%.