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Corn and wheat traded narrowly near unchanged most of the night, while soybeans favored the upside, though pared gains into the break.

Weekly soybean, wheat and soymeal sales fell short of expectations for the week ended Jan. 4, while corn sales were near the low-end of the pre-report range.

Soybeans traded solidly higher overnight, while corn and wheat pivoted around unchanged in light trade.

Basis firmed for soybeans and cash prices dropped.

After the Bell | January 10, 2024

Cash soybean prices decline sharply

Grains saw renewed selling pressure overnight, negating much of Tuesday’s rally in corn and soybeans, though wheat futures pared overnight losses into the break.

Corn, soybeans and wheat were unable to build on Tuesday’s corrective gains during overnight trade.

U.S. ag trade: Nov. exports fall, surplus achieved; FY 2024 outlook shows growing trade deficit