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Bret Waltz from BAM WX advises caution until the weather turns and offers hope for rivers in need of re-charge...
Short-term trend turns bullish for cotton, remains bearish for corn, soybeans and wheat
Corn, soybeans and wheat traded on both sides of unchanged during the overnight session but are mostly weaker this morning.
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All three categories virtually matched the average pre-report estimates.
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Corn, soybeans and wheat each saw continued corrective gains overnight, with corn and wheat both supported near the break by export sales coming in above expectations.
USDA reported weekly export sales of 1.25 MMT during the weekend ended Jan. 11, exceeding the top end pre-report range by 50,000 MT, while wheat sales exceeded expectations by 200,000 MT.