Corn and soybean export inspections were well above the previous week, topping pre-report expectations by nearly 75,000 MT and 150,000 MT, respectively. Wheat inspections were near top-end estimates of 400,000 MT.
After the Bell | January 13, 2023
Corn and soybeans ended the week with impressive gains following USDA's fresh updates on Thursday. Supportive outside markets continue to underpin gains.
USDA estimated 59% of U.S. winter wheat areas were covered by drought, down five points from the previous week and 10 points lower than last year at this time.
Corn, soybeans turn higher on USDA data. Corn and soybean production also fell short of estimates, leaving ending stocks below the average pre-report estimate.
Weekly export sales for week ended Jan. 5 reported corn sales below low-end expectations for the second week straight, while wheat and soybeans each landed within their lower expected ranges.
After the Bell | January 11, 2023
Gains in soymeal and crude oil futures underpinned strength in the grain and soy complex ahead of Thursday's government updates.
Heavier selling pressure was seen in grain and soy futures overnight, especially the soybean and winter wheat markets, after disappointing finishes on Monday.
