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Argy rains stabilize crops, U.S. HRW wheat crop deteriorates in January and USDA expected to report cattle herd contraction...
Crop insurance reform battle begins
We expect followthrough selling from overnight trade to be seen in the grain and soy markets this morning. Key will be whether funds actively liquidate long positions or view the pullback as a fresh buying opportunity.
Grain and soy complex futures traded lower overnight amid corrective selling and pressure from outside markets.
Individual state crop conditions ratings showed further deterioration of the HRW wheat crop during January.