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Wheat and corn futures are expected to open higher after strength overnight despite negative outside markets. Soybeans are expected to trade lower after extending the sharp price drop overnight.

Soybeans’ attempt at a corrective rebound overnight proved futile and the market is under pressure this morning. Corn futures traded both sides of unchanged, while wheat firmed overnight.

Beef stocks declined in February, though more than average. Pork stocks rose last month, though less than normal.

After the Bell | March 23, 2023

ISPFMRA annual survey finds strong gains in farmland values

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Yellen backtracks on adopting universal deposit insurance | Fed says no rate cuts this year

This year’s negative PDO has been significantly negative for 21 straight months. At the same time, NOAA predicts a strong evolution toward El Niño late this spring and early summer.