News
Soybeans started firmer overnight but buyer interest dried up and selling pressure mounted, with futures near session lows this morning. Corn followed soybeans lower, while wheat mildly firmed.
Corn, soybean futures drop from contract highs as broad long liquidation hits commodities; wheat futures also end lower.
Kansas, Texas and Oklahoma reduced abnormally dry/drought areas
Soybean futures rally above $16 to nine-month high on South American crop shortfall; corn hits contract high, wheat up.
Conab slashes Brazil bean crop est. | China cancels some big prior U.S. corn sales
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Wheat exports sales below trade expectations
Soybean futures continued their strong rally, with most old-crop contracts surging above $16 overnight. Corn and wheat followed soybeans higher.
Corn and soybean basis slipped, but cash prices surged.