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On the Grains Grains are soft in overnight trade as relentless selling by funds continues to keep buyers content to cover hand-to-mouth. Friday’s Commitments of Traders report showed especially heavy fund selling in corn and the entire soybean complex. Further selling in Chicago wheat was light and funds actually began to lighten up short positions in KC and MGE wheat. Disappointing yields on Brazil’s early harvest in beans continue to roll in, but they still have enough price advantage on U.S. beans to leak into our own east coast markets. Meanwhile there’s been enough recent stress on Argentine crops to tone down their crop condition ratings, but it’s only temporary according to forecasts, so all that’s done is put a pause on increasing estimates for that country. On the domestic front, the big weekend news was the release of the bipartisan Senate spending package for funding of border issues and the war effort by Ukraine and Israel. The 370-page bill totals $118 billion, with more than half for Ukraine, $20 billion to get control of our border issues, $14 billion for Israel and even an extra $2.4 billion for rapidly escalating attacks on and by the Houthi rebels in the…

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