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Soybeans led corn and wheat higher overnight on early reports of large export sales that were confirmed this morning by USDA.

Soybean futures posted strong gains overnight on talk of big Chinese purchases, while corn and wheat followed to the upside.

After the Bell | November 7, 2023

Higher-than-expected corn and soybean yields in some Corn Belt locations, along with a modest rally in corn prices, contributed to this month’s rise in farmer sentiment.

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Corn favored the downside overnight, soybeans reversed early losses and went into the break on session highs and wheat favored the downside though is well off session lows.

Soybeans pulled back from recent strong gains amid corrective selling overnight, while corn and wheat also traded lower.

Both crops remain well above year-ago levels.