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Soybeans led corrective strength overnight with corn following to the upside. Wheat fell under selling pressure, though buying efforts picked up into the break.
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Soybean basis dropped and remained weaker than average.
Corn, soybeans and wheat held in relatively tight trading ranges during a quite overnight session.
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Wheat futures led strength overnight with soybeans showing surprising strength following a gap lower on last night’s open. Corn traded on either side of unchanged with minimal volatility.
Corn, soybeans and wheat faced pressure earlier in the overnight session but have firmed and are trading near session highs.
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Weekly soybean inspections during the week ended Nov. 21 fell 164,413 MT from the previous week but were still notable at 2.1 MMT. Meanwhile, corn and wheat inspections each rose on the week.
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Soybeans are higher with corn and wheat futures under pressure to start the week. Cattle futures are sharply higher and lean hog futures are mildly weaker...
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Technical selling pressure was featured in the wheat market overnight, pulling corn lower as well. Soybeans saw relative strength, though went into the break well off session highs.
