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U.S. inflation falls below 3% for first time since early 2021
Price action was varied overnight as soybeans firmed on corrective buying, wheat continued to face selling pressure and corn traded narrowly near unchanged.
Soybeans posted modest corrective gains overnight, while the corn and wheat markets faced light followthrough selling.
Ag bankers note only slight gain in values from year earlier.
Forecasts of robust supplies weighed on the grain and soybean complexes today despite notably weaker U.S. dollar.
Rising inventories and declining auction values strain dealers, farmers, and manufacturers, leading to layoffs and financial pressures across the industry
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Selling persisted most of the overnight session in corn, soybeans and wheat, though buying efforts increased into the break.
Corn and spring wheat futures were unable to build on Monday’s gains during the overnight session, while soybeans and wheat faced followthrough selling.