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Wheat saw modest strength while corn and soybeans favored the downside in low volume overnight trade.
Soybean futures erased Monday’s strong gains during the overnight session, while corn mildly followed to the downside and wheat was choppy.
The increases halted a five-week slide for corn and a four-week decline for soybeans.
Corn, soybean wheat inspections each faded from the previous week, but were within the range of analysts’ pre-report expectations.
Soybeans are sharply higher with buyer interest limited in corn and wheat. Cattle futures are higher and lean hogs are choppy to lower…
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Soybeans led strength overnight while corn and wheat saw modest selling pressure.
Our short-term, intermediate- and long-term trends for commodity and key outside markets.
Soybeans posted corrective gains during overnight trade, while corn and wheat mildly favored the downside.
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Corn traded narrowly near unchanged most of the overnight session before climbing higher into the break, soybeans favored the downside but firmed this morning, wheat saw relative weakness.
New crop corn sales exceeded pre-report expectations by more than 400,000 MT during the week ended Aug. 29, while soybean sales were also notable at 1.66 MMT.
Corn, soybeans and wheat are mildly weaker this morning after two-sided trade earlier in the overnight session.