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Weekly soybean, wheat and soymeal sales fell short of expectations for the week ended Jan. 4, while corn sales were near the low-end of the pre-report range.
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The grain and soy markets saw corrective buying most of the overnight session, though sellers reemerged into the break, breaking prices near session lows.
Corn, soybeans and wheat recouped a portion of Monday’s losses during overnight trade.
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During the week ended Jan. 4, weekly wheat inspections topped pre-report estimates by over 140,000 MT, while soybean inspections were just shy of the pre-report range of 700,000 MT to 1.125 MMT.
Short-term trend turns bullish for live cattle and feeders.
Grain and soy futures favored the downside overnight - pressure continues this morning. Cattle futures are choppy with lean hogs mostly lower to start the week...
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Grains favored the downside overnight as soybeans continue to lead the complex lower.