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Corn and wheat futures posted corrective gains overnight after sharp losses Wednesday, while soybeans built on yesterday’s gains.
HRW crop is still rated well below its five-year average, while the SRW crop is slightly above normal.
Corn inspections were near the middle of expectations, while soybean inspections were at the lower end of what traders anticipated.
Wheat and corn futures are under heavy pressure coming out of the holiday weekend amid reports Russia will work with Turkey to facilitate Ukrainian grain exports.
Can China’s economic stats be trusted? WSJ blasts Biden on not helping Ukraine enough
Wheat futures down sharply on prospects for Ukraine supplies; soybeans climb to contract highs.
Wheat futures faced heavy pressure coming out of the extended weekend, which pulled corn lower. Soybeans were firmer overnight.
With Congress out, focus on reports, EU meeting, Russia gains in war with Ukraine
Corn, wheat futures end higher ahead of long holiday weekend as weather remains concern, soybeans mixed.
Davis Michaelsen and Editor Brian Grete discuss this week’s market action...