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Soybeans led the way lower overnight, pulling corn futures modestly lower. Wheat saw relative strength though went into the break off session highs.
Corn, soybeans and wheat briefly traded higher early in the overnight session but have weakened and are near their lows early this morning.
Corn basis dropped as harvest picked up but soybean basis firmed.
Fed Chairman Jerome Powell described the move a ‘recalibration’ while some others said the Fed was playing catch-up
A look at how India restricts U.S. soy products
Soybeans led strength overnight, surging higher and pulling both corn and beans modestly higher as well.
Soybean futures posted double-digit gains overnight, while corn and wheat traded modestly higher.
U.S. budget deficit on track to hit $1.9 trillion as fiscal warnings go unheeded
Corn, soybeans and wheat each favored the upside, with wheat leading the way higher following yesterday’s steep decline.