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Market focus will remain on U.S. and global weather as traders await acreage and grain stocks data at the end of June.
USDA pegged winter wheat production at 1.875 billion bu., just below expectations along with new-crop wheat U.S. ending stocks. However, U.S. and global corn and soybean ending stocks were above pre-report estimates.
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Wheat led weakness overnight, facing persistent selling pressure. Corn and soybeans traded higher, though continue to trade largely sideways ahead of today’s USDA reports.
Corn and soybeans modestly rebounded from Tuesday’s losses overnight, while wheat pulled back from its corrective gains yesterday.
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Corn and wheat saw modest strength overnight while soybeans saw mild selling pressure. Wheat futures have closed lower for nine consecutive sessions, a break from that weakness could support corn and soy after the open.
Corn, soybeans and wheat held in tight trading ranges during light, two-sided overnight price action.
The corn and spring wheat CCIs slipped from their initial ratings, while the first rating for soybeans was strong.
Corn, soybean and wheat export inspections during the week ended June 6, each notched a weekly decline, with soybean inspections marking the greatest drop, down 130,215 MT from the previous week.
Wheat futures are sharply lower. Corn and soybeans are mostly steady to slightly higher. Live and feeder cattle futures are sharply higher with lean hogs under pressure to start the week...
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Corn and soybeans rebounded from Friday’s losses overnight while wheat continues to face sharp selling pressure.
Short-term trend turns sideways for corn, live cattle and feeders.
Corn and soybean futures trade on both sides of unchanged overnight but have firmed and are near session highs this morning. Wheat faced followthrough selling overnight.
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