Corn, wheat see oversold bounces – Voice Of Muscatine

Corn, wheat see oversold bounces

Soybeans were mixed, mostly modestly higher. Beans consolidated after the recent run to multi-month lows sparked by long liquidation and slow export demand. Soybeans essentially followed the lead of bean meal, which was mostly modestly higher on bull spreading, while bean oil was up on oversold signals, the higher crude oil, and general renewable fuels demand expectations. Brazil remains in control of the global market due to a price advantage, even with lower production estimates.

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