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Soybeans mixed, corn, wheat down ahead of USDA reports

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Soybeans steady to modestly higher. Beans are oversold, having dropped nearly a dollar since the end of 2023, pressured by rain in dry parts of Brazil and generally favorable conditions in Argentina. The trade was getting ready for several USDA reports out Friday, including supply and demand numbers. There could be an adjustment to Brazil’s bean crop, but the USDA might hew conservative, with CONAB remaining above 155 million tons, for now. The major domestic reports will also be watched very closely.

Soybeans mixed, corn, wheat down ahead of USDA reports