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Soybeans led strength overnight while corn and soybeans saw action on either side of unchanged.
Corn sales during the week ended Oct. 31 totaled 2.77 MMT, according to USDA, which rose 18% from the previous week and four-week average. Net sales notably outpaced analysts’ expectations. Weekly soybean sales were reported at 2.04 MMT.
Corn, soybeans and SRW wheat built on Wednesday’s late price strength during the overnight session while HRW and HRS wheat rebounded from losses.
Corn and soybean basis firmed to be virtually in line with the three-year averages.
Corn, soybeans and wheat each favored the downside overnight, with soybeans leading the way lower as a Trump victory has traders cautious about longer-term impacts to trade.
Soybean futures faced heavy selling overnight, while corn and wheat also traded lower in reaction to the U.S. election results.
People have spoken as political party realignments in clear view