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After the Bell | November 16, 2023

The 90-day forecast from the National Weather Service signals increased chances of above-normal precipitation across most of the key HRW production areas of the Central and Southern Plains through February.

Corn, soybeans and wheat each saw continued selling pressure in the overnight session, with soybeans and soymeal leading the way lower.

The two-step continuing resolution is expected to clear the Senate, pushing the deadline for a full spending measure to January or February.

Weekly corn sales in week ended Nov. 9 totaled 1.8 MMT, topping expectations by over 250,000 MT, while soybean sales totaled 3.9 MMT.

Corn, soybeans and wheat faced followthrough selling to Wednesday’s losses during the overnight session.

Senate clears CR and President Biden expected to sign it into law

Corn and soybean basis mildly improved.

Strong weekly gains in cash soybean prices.