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After the Bell | January 6, 2023 Corn, soybeans end the first week of the year mostly higher after facing sharp selling early in the week, while wheat finished lower.
As of Jan. 3, 70% of the U.S. was covered by abnormal dryness/drought, down four percentage points from the previous week and 15 points below the peak in early November.
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Corn and soybeans failed to hold earlier corrective gains late in overnight trade and are expected to open lower this morning.
Corn, soybeans and wheat firmed overnight amid mild corrective buying following sharp losses the first two trading sessions of the new year.
Farmers National Company reports strong gains in farmland prices.
Basis declined for corn and soybeans over the past week but remained positive and above average.
After the Bell | January 4, 2023 Grains extended the previous session’s losses as Covid cases increase in China, pressuring global demand.
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Soybeans are expected to trade higher on corrective buying. Corn and wheat are likely to face followthrough selling.