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Soybeans are expected to trade higher on corrective buying. Corn and wheat are likely to face followthrough selling.

Soybeans were supported by corrective buying overnight, while corn and wheat faced followthrough selling.

After the Bell | January 3, 2023 A stronger U.S. dollar index, weaker crude and much-needed weekend rains in Argentina sent a general risk-off tone across grains and livestock to begin 2023.

Corn, wheat and soybean export inspections for week ended Dec. 29 fell notably below the previous week. Wheat and soybeans fell below expectations, while corn landed just above low range.

The Purdue University/CME Group Ag Economy Barometer rallied sharply in December to the highest reading for 2022.

Corn and soybean futures are mixed with wheat under pressure to start the week. Fat cattle futures are mildly higher with feeders and lean hogs under light pressure.

OMB completes review of final rule from USDA covering pandemic assistance programs

Short-term trends are bullish for grain and soy futures.

Grains are expected to open mixed following the extended holiday weekend as traders sort out South American weather, outside markets and China’s surging Covid cases.