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Cordonnier trims U.S. crop outlook, CCI ratings trail year-ago and China’s Central Bank lowers rates...

Xi prepares China for ‘extreme circumstances’

Corn and soybeans are expected to open moderately to sharply higher on support from crop concerns. Wheat is likely to be mixed.

Corn and soybeans were supported overnight by the bigger-than-expected declines in crop condition ratings, while wheat faced price pressure.

Corn and soybean CCI ratings are well below year-ago, while the spring wheat rating is still above last year at this time.

After the Bell | June 12, 2023

USDA reported soybean export inspections of 140,179 MT, missing the low-end pre-report estimate of 175,000 MT, while corn inspections were near top-end estimates but were down slightly from the previous week.

Corn and soybeans are higher with wheat mixed. Livestock futures are choppy with hog futures mostly firmer to start the week...