Morning Calls & Comments (1.13.23)

Soybeans faced light profit-taking pressure at the end of the overnight session, which is likely to spill over into the start of daytime trade.

grain calls
grain calls
(Commodity Update)

Corn: Steady to 2 cents higher.

Soybeans: 3 to 5 cents lower.

Wheat: SRW 1 to 3 cents lower; HRW 2 to 4 cents higher; HRS narrowly mixed.

Cattle: Choppy.

Hogs: Lower.

Soybeans failed to sustain followthrough buying overnight and faded to slight losses at the end of the session. Corn posted mild gains, while wheat had a varied tone. We expect similar price action this morning, though soybeans could be the key. If profit-taking seen late in the overnight session turns heavier ahead of the extended weekend it could pull the other markets lower. Outside markets are varied, with crude oil around 20 cents higher and the U.S. dollar index more than 250 points higher.