For week ended Sept. 7, USDA reported weekly soybean sales of 703,900 MT, 34.2% behind a year ago at this time. Weekly meal and oil sales notched net reductions during the week of 201,600 MT and 3,900 MT, respectively.
After the Bell | September 13, 2023
Corn, soybeans and wheat ended the session higher on corrective buying efforts following Tuesday's bearish reaction to USDA's September crop data.
After the Bell | September 12, 2023
USDA's September Crop Reports cast a negative tone across corn and soybeans, while wheat ended mildly positive after reaching fresh contract lows late-morning.
In its September WASDE, USDA increased planted corn acres, offsetting the reduction in yield to 173.8 bu. per acre, down from 175.1 in August. Soybean planted acres rose slightly, while the yield was trimmed to 50.1 bpa.
After the Bell | September 11, 2023
Corn and soybeans ended on a positive note ahead of USDA's September WASDE, with a weaker U.S. dollar lending support.
Weekly new-crop corn inspections have kicked the marketing year off ahead of last year at this time by over 4%, while soybean inspections lagged by over 21% in week ended Sept. 7.
Corn and soybean futures are slightly higher with wheat under moderate pressure. Cattle futures are mostly higher with feeder futures mixed and choppy. Lean hog futures are off to a solid start...
Corn and soybeans saw buying overnight, bringing both markets on technical resistance into the break. SRW futures made a new contract low overnight, with wheat futures falling across the board.
USDA reported weekly new-crop corn sales of 949,700 MT in week ended Aug. 31, which was near the top-end pre-report range, while soybean sales totaled 1.78 MMT. A fresh marketing year began Sept. 1.
After the Bell | September 6, 2023
Global supply uncertainty led the grain and soy complexes mostly higher, though persisting U.S. dollar strength cast a shadow over corn futures amid weak export demand.
Buying was seen across the grain markets overnight, follow-through buying after the break will be key in determining if buying is just a corrective bounce or if an interim low could be in place.
USDA's Weekly Export Inspections data was within pre-report estimates, though corn and wheat inspections fell notably on the week, while soybean inspections rose slightly.
The Current Conditions Index fell 10.7% in August, while the Future Expectations Index declined 4.0%. The overall ag barometer was 1.7% lower than August 2022.