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USDA expected to cut production, Cordonnier trims soybean yield forecast and Russia says grain export deal is, ‘on-hold’...

Grain bulls struggled to garner momentum overnight, though most trade is likely positioning ahead of today’s USDA reports.

Corn, soybeans and the winter wheat markets have turned weaker this morning after two-sided trade earlier in the overnight session.

Both crops continue to be rated under year-ago.

After the Bell | September 11, 2023 Corn and soybeans ended on a positive note ahead of USDA’s September WASDE, with a weaker U.S. dollar lending support.

Corn and soybeans saw buying overnight, bringing both markets on technical resistance into the break. SRW futures made a new contract low overnight, with wheat futures falling across the board.

Weekly new-crop corn inspections have kicked the marketing year off ahead of last year at this time by over 4%, while soybean inspections lagged by over 21% in week ended Sept. 7.

Corn and soybean futures are slightly higher with wheat under moderate pressure. Cattle futures are mostly higher with feeder futures mixed and choppy. Lean hog futures are off to a solid start...

CCC in focus | UAW deadline Thursday | Yellen on U.S. economy | Sorghum outlook