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Commodities

USDA Report Looms as Corn Prices Struggle Near Key Support

Guavy AI Editorial Team
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Corn
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Corn prices are stuck near key support levels ahead of Wednesday's USDA Supply/Demand report. The December contract has been trading in a tight range, struggling to rally as weather conditions improve.

The crop progress report shows corn with good/excellent ratings unchanged at 61%, while soybeans saw a slight decline to 62% due to improved weather forecasts limiting upside excitement.

Weekly export inspections were above pre-report estimates for corn, but soybean inspections fell within expectations. The USDA reported an export flash sale of 105,000 metric tons of corn to unknown destinations.

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