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During the week ended Feb. 1, USDA showed net soybean sales of 340,800 MT, short of pre-report estimates, while corn and wheat sales held steady week-over-week.
Mexico surpasses China as top source of goods imported by U.S. for first time in over two decades
Corn and wheat traded lower overnight, while soybeans firmed a little in quiet price action ahead of USDA’s February crop reports later this morning.
Basis turned slightly negative for corn and soybeans despite a big drop in cash prices.
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U.S. pork producers in price vice last seen in 1998 and 1999 | Farm bill going backwards
Corn futures fell to contract lows overnight, leading soybeans and wheat lower as well. Traders await Thursday’s USDA reports, which will give a fresh look into South American crop estimates and U.S. balance sheets.
Corn futures fell to contract lows overnight, while soybeans posted double-digit losses and wheat followed to the downside.