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Cash soymeal prices in central Illinois top $500.

Grain and soybean futures firmed overnight amid followthrough buying as traders awaited USDA’s January crop reports later this morning.

Soybean basis declined but remained above futures and the cash price firmed over the past week.

After the Bell | January 11, 2023 Gains in soymeal and crude oil futures underpinned strength in the grain and soy complex ahead of Thursday’s government updates.

Farmers have waited for months for some farm policy decision to be made by USDA, notably the Phase 2 provisions of the Emergency Relief Program (ERP).

Soybeans are expected to lead price gains in the grain and soy markets this morning after a strong performance overnight.

Corn and soybeans firmed after initially trading lower overnight, while wheat futures favored the downside in two-sided price action.

What if we don’t get a farm bill in 2023?

After the Bell | January 10, 2023 Grains ended the session mostly lower in anticipation of USDA’s final estimates to the 2022-23 crop on Thursday.

USDA will release its Annual Production Summary, Supply & Demand Report, Winter Wheat Seedings and Quarterly Grain Stocks Report on Thursday.