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Corn futures are called steady at the open while soybeans and wheat could face a quick push lower in follow up of weak closes on Friday. In the Headlines July corn futures held on to gains of 2 1/2 cents last week. July beans dropped 25 3/4 cents for the week. July Chicago wheat futures lost 51 cents last week and KC July was lower by 43. June live cattle finished up 62 cents last week while August feeders were down $1.47. June lean hogs were lower by $1.82. Friday’s session featured a risk-off tone that followed from a monthly labor report that pressured the stock market and rallied the dollar index. It was “good news is bad news” for financial markets because better than expected jobs numbers were thought to support the central bank staying hawkish on monetary policy. The futures market shifted quickly after the report to show the odds of interest rates staying unchanged after the September meeting rising to nearly 50-50. Just one month ago, it was priced in to be nearly 70 percent likely that rates would fall by September. The Federal Reserve Bank will meet this week with new guidance published along with a…

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