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A steady to slightly softer open is expected for the grains as technical weakness offsets bullish inputs including dry weather in South America and growing conflict in the Middle East. Trading volumes likely continue to be light ahead of the Thursday crop report. In the Headlines Corn and soybean futures made fresh lows last week with March corn down 3 1/2 cents over the five sessions and March beans off 20 3/4. March Chicago wheat finished lower by just 1/2-cent for the week while KC wheat futures were also just fractionally weaker. February live cattle reached toward a new three-month high on gains of $2.10 for the week. March feeders were higher by $5.10. February hogs were up by 52 cents last week. Much of Brazil and Argentina have their crops under the stress of a hot, dry forecast this week. Both countries have rain in the outlook later next week, but those chances are subject to diminish to disappear. The Buenos Aires Grains Exchange just lowered its scores for Argentina’s soybean crop down from 44 to 36 percent Good or Excellent. Only one daily export sales announcement was triggered last week to account for just over 200,000 metric tons…

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