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Corn faced followthrough selling overnight, while wheat more than erased Monday’s modest gains. Soybeans posted two-sided trade.

After the Bell | October 23, 2023

USDA reported wheat inspections of 168,868 MT during week ended Oct. 19, which were down 187,000 MT from last week and below pre-report estimates.

Farm bill extension now seen as very likely

Soybeans and corn are under pressure to open the week, while wheat is firmer.

Short-term trends turn bullish for corn and soymeal.

Corn and soybeans are expected to open lower, with wheat likely to be mixed.