Virginia McGathey breaks down the latest moves in the grain markets. Soybean futures found support from the EPA increasing renewable fuel standards, keeping prices in a two-week sideways pattern. Meanwhile, Corn futures traded lower as a rising U.S. dollar and expectations of record USDA inventories weighed on prices, though they managed to bounce off key support levels. Wheat futures remained firm despite expectations of a five-year high in stocks, driven by forecasts of limited rain over hard red winter wheat areas. Market participants are closely monitoring tomorrow's USDA report for further direction.
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