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After the Bell | February 8, 2023

The data failed to move markets much from where they were trading ahead of USDA’s reports.

USDA reported ending stocks for corn, soybeans and wheat higher than pre-report estimates.

Only minor adjustments expected in today’s S&D Report, President Biden hopes to “finish the job,” and feedlots may capture upper hand in cash cattle negotiations...

The mostly firmer tone overnight is expected to carry over to daytime trade as traders await USDA’s reports later this morning.

USDA WASDE today | Brazil crop estimates | Ukraine grain exports fall sharply

Grain and soy futures traded solidly higher overnight, led by old-crop soybeans.

Speech could have been titled “Let’s Finish the Job” because he kept repeating the refrain

After the Bell |February 7, 2023

USDA forecasts net farm income will decline $25.9 billion (15.9%) from last year to $136.9 billion, driven partly by an expected $5.4 billion (34.4%) drop in direct government payments.