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Wheat sales for week ended Feb. 16 were 338,800 MT, a 62% increase from the previous week nearly 40% above the 4-week average. Corn sales were 30% below the 4-week average, with soybeans nearly 20% below.

Grain and soy futures are expected to open lower on followthrough selling and pressure from the U.S. dollar.

Soybeans firmed on light corrective buying overnight, while the corn and wheat markets faced pressure.

After the Bell | February 23, 2023

USDA again lowers FY 2023 ag export forecast

Yellen wary of China’s support for Russia, Eurozone inflation eases and China will exert more government control over finances...

Light, two-sided trade is expected in the grain and soy markets this morning.

At the annual Ag Outlook Forum, USDA issued its first projections for the 2023-24 marketing year, based on the January WASDE Report.