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CBOT grain futures rose ahead of the USDA's quarterly stocks report, attributed to last-minute positioning. Analysts do not expect major surprises, but note that soybean stocks remain tight and reliant on a strong crop.
CBOT wheat futures rose 3-6 cents to $6.98-1/2 per bushel, corn futures firmed 1-3 cents to $5.24-3/4, and soybean futures gained 5-8 cents to $13.05-1/4, with traders positioning ahead of USDA reports.
Wheat, corn, and soybeans are expected to trade higher at the resumption of trading on the Chicago Board of Trade. Wheat is anticipated to open up 3-6 cents, corn 1-3 cents, and soybeans 5-8 cents. This comes ahead of the USDA's quarterly US grain stocks and annual small grains reports, scheduled for release later in t