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We expect price pressure seen in corn, soybeans and winter wheat to carry over to the start of daytime trade.
Corn and soybean futures extended Tuesday’s declines during overnight trade, while wheat futures traded narrowly mixed.
Latest Mexican decree still bars GMO corn for food as of 2024, to transition away from GMO corn in animal feed
Corn and wheat futures are expected to be mildly firmer, while soybeans are called slightly weaker. But we anticipate two-sided, directionless price action.
Two-sided trade was seen in the grain and soy markets overnight, with corn and wheat mildly firmer and soybeans weaker early this morning.
Soybean export inspections were down nearly 360,000 MT from the previous week, but were near the top-end range of pre-report estimates. Soybean inspections are running currently running 1.6% ahead of a year ago.
Soybeans open the week with a firmer tone with corn steady and wheat under light pressure. Live cattle and lean hog futures are higher this morning...
Corn and wheat are expected to open under mild pressure, while soybeans are likely to be mostly weaker this morning.