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Soybeans, corn down on post-USDA report profit taking

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Soybeans were lower on profit taking and technical selling, compounding the week’s losses. The USDA left U.S. ending stocks unchanged at 245 million bushels with no adjustments to the U.S. balance sheet. That’s pretty typical for December, with the USDA generally waiting until the preliminary final production totals in January to make significant adjustments to the U.S. balance sheet. The average estimates 2023/24 U.S. farm price was also unchanged, holding at $12.90 per bushel, well below the 2022/23 average of $14.20, but there are still about nine months left in the current marketing year.

Soybeans, corn down on post-USDA report profit taking