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Grains markets opened the Sunday night trade sharply higher on the back of headlines from the Black Sea. Will the rally continue or will it get sold into?
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Grain markets were under heavy pressure yesterday but have found their footing in the early morning trade. These are the technical levels we are keeping a close eye on.
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The great debate over the last week has revolved around whether or not the USDA will lower the US corn yield in today's report. It would be out of the norm for them to do so in this report, but this growing season has been out of the norm too, with the month of June registering as the 5th driest June since 1895.
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Grain futures are uniformly higher in the early morning trade as hedgers and speculators prepare for tomorrow's USDA report which will will provide an updated look at yield and production estimates.
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