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Corn and wheat gapped higher overnight and showed continued strength, while soybeans traded on both sides of unchanged, though went into the break nearer session highs.

Large purchases from China during week ended Dec. 7 boosted wheat sales to 1.5 MMT during the week, a marketing-year high. China’s purchases totaled 1.12 MMT during the week.

Corn and wheat futures posted mild corrective gains throughout the overnight, while soybeans traded on both sides of unchanged.

Basis firmed for both corn and soybeans

Cash ethanol and diesel prices continue to drop.

After the Bell | December 13, 2023

New economic projections show a notable shift in tone and outlook to dovish.

FOMC | Big changes in Argentina | Sugar tariffs | COP28 agreement… with loopholes | SAF

Corn, soybeans and wheat each favored the downside overnight, though corn and soybeans saw corrective buying into the break.

Corn, soybeans and wheat all traded solidly to the downside during overnight trade.