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In its July WASDE, USDA slashed the corn yield by 4 bu., which put 2023-24 ending stocks near pre-report estimates. Its soybean yield projection was unchanged, leaving ending stocks well above pre-report estimates.
Corn, soybean and spring wheat futures firmed amid followthrough buying overnight, while the winter wheat markets posted corrective gains.
The spring wheat CCI rating continued to decline.
USDA reported wheat inspections of 419,134 MT for week ended July 6, topping pre-report estimates, while corn inspections missed the respective range by nearly 160,000 MT.
Soybeans are sharply higher with Corn and wheat futures also higher. Cattle futures open the week with a softer tone and lean hog futures are mildly higher...
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Soy complex futures are expected to open sharply higher, with corn called firmer on spillover support.
Soybeans posted strong gains overnight, while corn and wheat followed to the upside. As
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