Agriculture News
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USDA left U.S. old-crop corn ending stocks unchanged, whereas traders expected a cut. Global corn ending stocks also unexpectedly increased.
Grain and soy complex futures held in narrow ranges in light trade overnight as traders await USDA’s April Supply & Demand Report later this morning.
Kansas has a one-point decline in dry/drought area
Winter wheat and corn futures are under light pressure this morning, while soybeans are modestly higher.
Corn and wheat basis firmed even as cash prices rose.