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The grain markets saw limited volatility overnight, with corn seeing slight buying into the break, soybeans seeing mild selling pressure and wheat facing profit taking from Tuesday’s rally.
Corn, soybean and wheat futures traded narrowly on either side of unchanged during quiet overnight price action.
Corn and soybeans underwent heavy selling pressure throughout the session, despite corrective buying in the wheat and cotton markets. Livestock fell under pressure as well, as cattle saw selling and hogs continue to fall
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Corn, soybeans and wheat each favored the downside overnight, with soybeans leading the way lower.
Soybeans erased Monday’s gains during overnight trade, while corn and the winter wheat markets faced mild followthrough selling.
Soybeans showed impressive strength throughout the session despite weakness in corn, wheat and cotton. Live cattle futures made multi-week highs though faded into the close. Hogs traded around unchanged.
Wheat inspections were near the middle of the expected range.
Wheat futures are under pressure with corn and soybeans choppy. Cattle futures are extending last week’s gains with lean hogs choppy to start the week…