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Wheat futures firmed overnight amid global supply concerns and rising tensions in the Black Sea region, while corn and soybeans built on Thursday’s gains.
While corn sales proved lackluster, net soybeans sales were notable at 1.47 MMT, though both corn and soybean sales are notably trailing the same period a year-ago.
Wheat continues to show relative strength, helping pull both corn and beans higher in the overnight session. Modest selling pulled corn and beans off overnight highs into the break.
Wheat futures led followthrough buying in the grain and soy markets during the overnight session.
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Corn and soybeans recouped a portion of Tuesday’s losses overnight, while wheat saw continued strength.
Corn and soybean futures rebounded from Tuesday’s losses, while wheat showed followthrough price strength during the overnight session.
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