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Corn, soybeans and wheat each saw modest gains in the overnight session as positioning led trading ahead of today’s USDA reports.
Corn, soybeans and the winter wheat market mildly favored the upside in quiet overnight trade ahead of USDA’s October crop reports later this morning.
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Corn and wheat saw relative strength most of the overnight session, though saw heightened selling pressure into the break. Soybeans favored the downside though traded within Wednesday’s range.
Corn and soybean sales during the week ended Oct. 3 totaled 1.222 MMT and 1.264 MMT, respectively.
Winter wheat markets traded moderately higher overnight, while corn and spring wheat posted mild gains. Soybeans pivoted around unchanged overnight.
Corn and soybean basis declined as harvest remained rapid.