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After the Bell | February 2, 2023

Our updated monthly and quarterly price forecasts, including the initial look at the third quarter.

StoneX forecasts record Brazilian crops, McCarthy made no promises in confab with Biden and potash inventories build...

Corn, soybeans and wheat are expected to open higher. Weekly sales were strong for corn, at the lower end of expectations for soybeans and poor for wheat.

Farm bill developments | U.S./Mexico corn trade issue | India rice and wheat subsidies

Export sales for week ended Jan. 26 showed corn sales of 1.593 MMT, notably above top-end estimates of 1.2 MMT. Soybean sales were just above low-end estimates of 700,000 MT, while wheat fell short by over 163,000 MT.

Soy complex futures traded higher overnight, while wheat favored the upside and corn faded to a mixed tone this morning.

Basis firmed for both corn and soybeans even as cash prices rose.