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Corn and soybeans faced followthrough selling overnight while wheat retreated from Wednesday’s gains amid pressure from outside markets and building global recessionary concerns.
Corn, soybean and wheat futures built on Tuesday’s losses during overnight trade.
Soybean futures drop to lowest level in over a week amid favorable Midwest weather, sharp decline in crude oil.
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Soybean futures drop sharply after USDA crop ratings top expectations, corn and wheat also lower.
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December corn posts two-month high as Pro Farmer estimates U.S. crop at three-year low; soybeans lower, wheat up sharply.
Corn and wheat futures pulled back from Monday’s gains overnight, while the soybean market faced followthrough selling.
The corn CCI rating is the lowest for late August since 2013.
Weekly export inspections for week ended August 25, 2022 revealed mid-range inspections for corn and wheat, while soybeans fell short of trade expectations.
Corn and wheat futures are higher with soybeans under pressure. Cattle futures are mostly lower with lean hogs higher to start the week…