Market Snapshot | November 16, 2023
The 90-day forecast from the National Weather Service signals increased chances of above-normal precipitation across most of the key HRW production areas of the Central and Southern Plains through February.
Corn, soybeans and wheat each saw continued selling pressure in the overnight session, with soybeans and soymeal leading the way lower.
Weekly corn sales in week ended Nov. 9 totaled 1.8 MMT, topping expectations by over 250,000 MT, while soybean sales totaled 3.9 MMT.
Corn, soybeans and wheat faced followthrough selling to Wednesday’s losses during the overnight session.
Senate clears CR and President Biden expected to sign it into law
Corn and soybean basis mildly improved.
Strong weekly gains in cash soybean prices.
Top stories for Nov. 15, 2023
After the Bell | November 15, 2023
