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Data was mostly neutral compared to pre-report expectations.
A big part of the larger-than-normal increase in beef stocks was due to a downward revision for the August figure.
Grains fell under pressure to end the week while hogs continue to show robust contra-seasonal strength. Cattle paused ahead of this afternoon’s reports.
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Wheat led losses overnight with corn and soybeans following to the downside.
Selling pressure mounted during the overnight session, with corn, soybeans and wheat trading near session lows early this morning.
After the Bell
Cash corn and soybean prices rebound but remain well below year-ago.
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