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Grain futures extended losses overnight, led by sharply lower soybeans. The November soybean contract filled a bullish chart gap despite a USDA report that lowered expected carryout.
Forecasts for more rain in the dry northern Plains weighed on prices.
Improved rain prospects for the northern Plains reduce the risk of crop losses, which pressures soybean, corn and wheat prices lower. Feed buyers may see softer grain costs in the near term.
farmprogress.comJul 13, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
