News
Soybeans turned lower after rallying 60 cents in two sessions to start the week, wheat futures continue to bounce from near-contract lows and corn saw light trading on both sides of unchanged overnight.
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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.
Corn futures were unable to generate followthrough buying overnight after Thursday’s gains, while the soybean and wheat markets extended yesterday’s declines.
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