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Soybeans favored the downside overnight while corn and wheat saw action on either side of unchanged, though saw increased selling pressure into the break.
Wheat futures have adopted a mildly firmer tone early this morning after two-sided trade overnight, while soybeans have weakened. Corn is chopping around unchanged.
USDA made no changes to corn and soybean ending stocks, whereas analysts expected small cuts.
Analysts expected modest declines in 2024-25 ending stocks for corn and soybeans, though USDA kept the estimates unchanged from last month. Global corn, soybean and wheat ending stocks were each below their average pre-report estimate.
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