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The 90-day outlook calls for above-normal temps over most areas of the country, with “equal chances” of rainfall over most of the Corn Belt.
Corn and soybeans saw sustained selling pressure most of the night. Wheat favored the upside for the most part, though prices turned sharply lower following this morning’s export sales report.
Weekly corn sales for the week ended April 11 rose 54% from the previous week, but still down 45% from the four-week average. Soybean sales were up 59% from the previous week and 62% from the four-week average.
Corn futures mildly extended Wednesday’s losses overnight, while soybeans erased gains from yesterday. Wheat was supported by light corrective buying.
Corn basis continued to firm seasonally but remains below the three-year average.
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Corn, soybeans and wheat each traded in relatively tight ranges overnight, as corn and wheat mildly favored the upside and soybeans posted modest losses.
Corn, soybeans and wheat held in tight trading ranges during a quiet overnight session.
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Corn, soybeans and wheat saw choppy trade overnight trading on both sides of unchanged, though each were lower into the break.
Corn, soybeans and wheat traded on both sides of unchanged overnight.
Declines in the HRW CCI rating were fully offset by improvements in SRW crop.