News
USDA’s Weekly export inspections data showed corn, soybean and wheat inspections within pre-report ranges, though soybean inspections are increasingly falling behind year-ago.
Corn and wheat futures are under light pressure with soybeans slightly higher to start the week. Cattle futures are mostly higher with lean hogs mixed.
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Corn and soybeans reversed early overnight losses and into the break nearer session highs, as soybeans continue to lead strength. Wheat futures slipped, continuing last week’s weakness.
Soybean futures firmed despite a gap lower on the overnight open, corn futures have pivoted near unchanged while wheat continued recent weakness.
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The report data was virtually inline with expectations, which should have little impact on prices Monday.
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Grain markets are expected to open weaker this morning after price pressure overnight.