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After the Bell | December 8, 2023

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USDA cut corn, wheat and cotton ending stocks, while leaving soybean carryover unchanged.

Global carryover for corn and soybeans each surpassed pre-report expectations by 1.8 MMT and 1.5 MMT, respectively, largely neutralizing the lower-than-expected U.S. corn carryover.

Markets scaling back rate cut expectations, move to near even in March vs being over 50% for cut in March

UN Global Food Price Index skids lower, CCP commits to providing support to Chinese economy and Speaker Johnson suggests CR...

Corn and soybeans favored the upside overnight, while wheat saw some profit taking, though went into the break well off session lows.

Corn, soybeans and wheat held in relatively tight trading ranges overnight ahead of USDA’s December crop reports later this morning.