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House WOTUS hearing: Latest EPA announcement brings lots of uncertainty

Soybeans are expected to open with a firmer tone. Corn and wheat are expected to open mixed.

Export sales data for week ended Feb. 2 showed net cotton sales of 262,800 RB, which was up 54% from the previous week and 58% from the prior 4-week average.

Soybeans are firmer this morning on followthrough buying, while corn and wheat are pivoting on either side of unchanged.

Cash soybean meal price tops $500 for the first time since August.

Cash hog prices show signs of a seasonal low.

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...