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Corn, soybean and wheat futures pulled back from recent strong gains overnight, while soyoil faced heavy followthrough selling after yesterday’s limit-down performance.

Cash corn, soybean and wheat prices rise.

cash corn and soybeans prices surged over the past week.

The biomass-based diesel requirements are well below the increase sought by producers, which put heavy pressure on the soyoil market.

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Corn, soybean and wheat futures are expected to open sharply higher on support from plunging crop condition ratings. Soyoil will face heavy pressure from reports of EPA’s biodiesel mandates.

Plunging crop condition ratings and dryness concerns fueled strong gains in corn, soybean and spring wheat futures overnight. Winter wheat futures actively followed to the upside.