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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.
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Soybeans are expected to trade higher on corrective buying. Corn and wheat are likely to face followthrough selling.
Soybeans were supported by corrective buying overnight, while corn and wheat faced followthrough selling.
After the Bell | January 3, 2023 A stronger U.S. dollar index, weaker crude and much-needed weekend rains in Argentina sent a general risk-off tone across grains and livestock to begin 2023.
Corn, wheat and soybean export inspections for week ended Dec. 29 fell notably below the previous week. Wheat and soybeans fell below expectations, while corn landed just above low range.