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China’s top economic planner will hold a press briefing on Tuesday
Soybeans led the way lower overnight while corn and wheat followed modestly to the downside.
Corn, soybeans and wheat faced followthorugh selling during the overnight session.
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Dockworkers’ strike ended Thursday night, removing a potential economic headwind
Beans are expected to open mildly firmer, while corn and wheat will face price pressure.
Soybeans recouped some of Thursday’s losses during the overnight session, while corn and wheat faced followthrough selling.
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Price rally at one-month highs
Grain futures are expected to open lower, led by soybeans.
Corn sales during the week ended Sept. 26 exceeded pre-report estimates by nearly 700,000 MT, while wheat sales were also stronger than expected. Soybean sales were also solid at 1.44 MMT.
Corn, soybeans and the winter wheat markets favored the downside during overnight trade.
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Soybean basis firmed despite an increase in cash price.