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Corn, soybean and wheat futures traded on both sides of unchanged during the overnight session but have firmed and are near their highs this morning.

After the Bell | July 13, 2023

The World Board cut the corn yield projection due to extreme dryness through June. The soybean yield was left unchanged.

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Soy complex futures are expected to lead a corrective rebound.

USDA reported net corn sales of 468,400 MT for 2022-23 and 470,800 MT for 2023-24, notably exceeding pre-report estimates.

Soybeans led a corrective rebound in the grain and soy markets overnight.

Corn and soybean basis are now both below the three-year averages.