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Corn and soybeans traded in tight ranges overnight, with corn favoring the upside and soybeans the downside. Wheat futures favored the upside, though saw weakness into the break.
Weekly soybean sales during the week ended Jan. 18, missed the low-end pre-report estimate by 140,000 MT and were down 28% from the previous week.
Corn, soybeans and wheat held in tight ranges in light overnight price action.
Basis and cash prices firmed for corn and soybeans.
Cash corn and soybean prices rose for the first time in a month.
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Corn, soybeans and wheat continue to see corrective gains as soybeans are leading the way higher.
Corn, soybeans and wheat modestly extended recent corrective gains during the overnight session.
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Corn, soybeans and wheat pivoted near unchanged most of the overnight session though surged higher into the break.
Corn, soybeans and wheat are mildly favoring the upside this morning after trading narrowly on either side of unchanged overnight.
During the week ended Jan. 18, weekly corn and soybean inspections dropped 233,127 MT and 117,068 MT, respectively, while wheat inspections rose 72,112 MT from the previous week’s totals.
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Corn and soybeans each pivoted around unchanged most of the overnight session and went into the break near unchanged while wheat futures favored the downside.