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Corn posted mild gains overnight, soybeans faced price pressure for most of the session and wheat pivoted around unchanged.
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USDA cut the soybean crop estimate and ending stocks more than expected.
USDA cut the soybean yield by 1.4 bu. per acre to 51.7 bu. per acre, while ending stocks were pegged at 470 million bu. Both were well below average pre-report estimates. Meanwhile, both corn yield and ending stocks were below average estimates.
Corn saw relative strength overnight as soybeans and wheat favored the downside.
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Corn futures have firmed after light, two-sided trade overnight, while the soybean and wheat markets faced pressure for most of the session.
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Soybeans led strength overnight while corn and soybeans saw action on either side of unchanged.