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Corn and soybeans saw modest losses overnight following volatile trade on Thursday following the updated USDA reports, while wheat went into the break on session highs, modestly higher
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Soybean basis improved but remains below average.
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Soybeans led corn and wheat higher overnight on early reports of large export sales that were confirmed this morning by USDA.
Soybean futures posted strong gains overnight on talk of big Chinese purchases, while corn and wheat followed to the upside.
Higher-than-expected corn and soybean yields in some Corn Belt locations, along with a modest rally in corn prices, contributed to this month’s rise in farmer sentiment.
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