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Corn sales during the week ended Oct. 31 totaled 2.77 MMT, according to USDA, which rose 18% from the previous week and four-week average. Net sales notably outpaced analysts’ expectations. Weekly soybean sales were reported at 2.04 MMT.
Corn soybeans and wheat pivoted near unchanged most of the overnight session though saw an increase in buying pressure late in the session, each going into the break on session highs.
Corn, soybeans and wheat pivoted around unchanged while holding in tight trading ranges overnight but have adopted mildly firmer tones this morning.
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SRW improvement was led by top producer Illinois.
Soybean inspections during the week ended Oct. 31, led the decline, falling 469,793 MT, while wheat inspections fell 101,134 MT and missed pre-report expectations.
Corn and soybeans are moderately higher with wheat futures working to follow higher. Cattle and hog futures are lower to start the week…
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Soybeans led strength overnight with corn following to the upside. Wheat traded higher early in the session, though selling interest picked up as the session went on.
Short-term trend turns bullish for oats and soyoil.