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After the Bell | October 23, 2023

USDA reported wheat inspections of 168,868 MT during week ended Oct. 19, which were down 187,000 MT from last week and below pre-report estimates.

Farm bill extension now seen as very likely

Soybeans and corn are under pressure to open the week, while wheat is firmer.

Short-term trends turn bullish for corn and soymeal.

Corn and soybeans are expected to open lower, with wheat likely to be mixed.

Soybeans led overnight losses, while corn and the winter wheat markets faced lighter selling.