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On the Grains Grains are soft in overnight trade as spring planting prospects continue improving and traders focus on positioning for possible surprises in Thursday’s Prospective Plantings and Grain Stocks reports. Fund activity has been inconclusive so far, but being so heavily short they’re more likely to be lightening up some going into Thursday’s reports. Yesterday’s weekly export inspections continue supportive for corn. They were in the upper end of the range of expectations. While YTD export sales are running behind the needed pace, the amount actually shipped, is now 33.6% ahead of last year versus USDA forecasts for a 26.4% increase. Alas, that’s not the case for soybeans. Inspections were only mid-range versus expectations and year to date actual shipments lag last year by 18.7% versus USDA’s forecast for only a 13.7% decline. Once again, wheat loadings came in at the low end of expectations. With only two months left in the marketing year shipments are down 15.1% versus the current forecast for only a 6.5% decline. Key winter wheat states issued new monthly crop ratings yesterday and overall, winter wheat continued to improve, with slight declines for Kansas and South Dakota. USDA doesn’t resume its weekly crop progress…

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