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Corn, soybeans and wheat held in relatively tight trading ranges during a quiet overnight session.

After the Bell | September 14, 2023

For week ended Sept. 7, USDA reported weekly soybean sales of 703,900 MT, 34.2% behind a year ago at this time. Weekly meal and oil sales notched net reductions during the week of 201,600 MT and 3,900 MT, respectively.

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Action was mixed overnight in grains but corn, soybeans and wheat each saw selling pressure into the break.

USDA reported weekly new-crop corn sales of 949,700 MT in week ended Aug. 31, which was near the top-end pre-report range, while soybean sales totaled 1.78 MMT. A fresh marketing year began Sept. 1.

Corn, soybeans and wheat held in tight trading ranges during a quiet overnight session.

Sharp weekly decline in cash grain prices.

Soybean basis turns negative for the first time this year.