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Corn and wheat saw corrective gains overnight, while soybeans saw followthrough selling.

Chart trends remained mostly unchanged from the previous week.

Corn and wheat futures traded higher on corrective buying overnight, while soybeans faced followthrough selling.

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After the Bell | September 29, 2023 USDA’s Quarterly Stocks Report extended early session selling, while a potential government shutdown heightened risk-off sentiment.

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Soybean stocks and wheat production came in higher than expected. Sept. 1 corn stocks were lower than anticipated.

USDA pegged Sept. 1 corn stocks at 1.361 billion bu., 68 million bu. lower than pre-report expectations and 16 million bu. lower than year-ago. Soybean stocks were above pre-report estimates by 26 mb.

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Corn and soybeans pivoted around unchanged for most of the night while wheat saw light corrective buying.