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Corn and soybean futures are higher with wheat futures under pressure. Cattle and hog futures start the week working higher...
Soybeans continue to lead weakness, giving up all of Thursday’s gains overnight, while corn followed to the downside. Wheat futures saw modest corrective gains overnight.
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Corn faced followthrough selling overnight, while soybeans more than erased Thursday’s gains and the wheat market was mixed.
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USDA unexpectedly increased corn ending stock and raised soybean carryover more than anticipated.
USDA showed soybean ending stocks rose 35 million bu. from January, while corn rose 10 million bu,. Meanwhile, 2023-24 global soybean carryover was notably higher than expectations.
Traders await USDA reports, Conab slashes forecasts and ocean imports into the United States are increasing...
Soybeans led strength overnight while corn saw corrective buying from a fresh contract low. Wheat futures saw renewed selling.