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After facing followthrough selling earlier in the overnight session, corn, soybeans and wheat are modestly firmer and trading near session highs this morning.
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Placements dropped 3.3% from year-ago and fell below the bottom end of pre-report expectations.
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Corn, soybeans and wheat each opened lower overnight on reports that Argentina is cutting export taxes.
Corn sales during the week ended Jan. 16 rose 62% from the previous week, while soybean sales were more than double. Meanwhile, wheat sales slid 68%, missing pre-report expectations.