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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.
Cash corn and soybean prices rebound but remain well below year-ago.
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Corn and soybeans continue to lead strength, while wheat spent most of the overnight session trading near unchanged.