News
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, 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.
Corn, soybeans and wheat modestly extended Thursday’s corrective gains during the overnight session.
Corn, soybeans and wheat each saw limited volatility overnight, mildly favoring the downside. Each are trading near their for-the-move lows.
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Corn, soybeans and spring wheat contracts traded higher overnight amid light corrective buying, while the winter wheat markets favored the downside.