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Corn, soybeans and wheat are expected to open higher. Weekly sales were strong for corn, at the lower end of expectations for soybeans and poor for wheat.
Farm bill developments | U.S./Mexico corn trade issue | India rice and wheat subsidies
Export sales for week ended Jan. 26 showed corn sales of 1.593 MMT, notably above top-end estimates of 1.2 MMT. Soybean sales were just above low-end estimates of 700,000 MT, while wheat fell short by over 163,000 MT.
Soy complex futures traded higher overnight, while wheat favored the upside and corn faded to a mixed tone this morning.
Basis firmed for both corn and soybeans even as cash prices rose.
