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Weekly corn sales landed just above the low-end pre-report estimate, down 58% from the week prior and 68% from the four-week average. Soybean sales were up notably from the week prior and 17% from the four-week average.

Soybean futures extended this week’s price gains overnight, while wheat traded lower and corn was mixed.

As a result of tighter global exportable supplies and higher industrial consumption, soybean oil as a percentage of global vegetable oil consumption is forecast to fall below 30% in 2022-23.

Cash corn prices showed little change over the past week; soybean prices weakened.

Cash cattle prices reached an all-time high. Choice beef prices also surged, but are still far from their peak.

After the Bell | April 12, 2023

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