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Corn, soybeans and wheat each saw sustained selling pressure overnight though saw a modest bounce into the break.
Grains traded lower overnight ahead of USDA’s August crop reports later this morning.
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Grain futures are expected to open firmer amid corrective buying.
Corn, soybeans and wheat traded higher amid corrective buying during the overnight session.
USDA will also issue its first cotton crop estimate and update wheat production.
Our Market Watch table features monthly and quarterly price outlooks along with weekly prices for a variety of ag markets.
Corn and soybeans both edged to fresh near-term lows into the close, amid risk-off sentiments following a week of volatile trade in the broader marketplace.
Old- and new-crop soybean sales during the week ended Aug. 1 each surpassed analysts’ pre-report expectations, while new-crop corn were notably short.
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Corn and soybean basis declined along with cash prices.
Technical selling hovered over the grain and soy complexes, though soyoil futures extended from Tuesday’s lows, marking gains for the first time in five sessions.
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Wheat continues to show relative while corn and soybeans saw followthrough selling overnight.
Followthrough buying in wheat, corn and beans extend losses overnight.