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Corn, soybeans and wheat each saw sustained selling pressure overnight. Corn futures negated Friday’s gain while soybeans and wheat forged fresh lows.
Corn and wheat favored the downside overnight while soybeans saw action on both sides of unchanged.
U.S. dollar weakness, in the wake of a lower June CPI reading, spurred modest short-covering ahead of USDA’s supply and demand update on Friday.
Vilsack asked to review the approval
Corn price outlook shows potential of $3.50 to $3.75 as farmers hold a lot of stocks
Response rates declining | Factors affecting response rates | USDA and ag industry comments
Corrective buying was featured across the grain and soy markets overnight, with each going into the break near session highs.
Soymeal sales fell 75% from the previous week, while beef sales dropped 46%.