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U.S. soybean oil used in bio-fuel production breeches 1 billion pounds, India’s rice rally continues and BOE leaves rates unchanged...

Corn, soybeans and wheat started off the new month with a fresh round of selling in the overnight session.

Weekly soybean sales during the week ended Jan. 25 missed the pre-report range by over 330,000 MT, while soymeal sales exceeded expectations. Corn and wheat sales were within pre-report estimates.

Corn, soybeans and wheat kicked off the new month with a round of fresh selling during the overnight session.

Corn and soybean basis remained positive but slightly below average for this time of year.

The underlying data was bullish as the U.S. cattle herd contracted further — and will continue to do so.

After the Bell | January 31, 2024