Corn, wheat drift downward

Soybeans were mostly modestly higher on commercial spread trade, rallying somewhat after early losses. Forecasts have widespread rain in dry areas of Brazil, which should last into the early part of January. Harvest activity is just getting underway in some southern areas, but this should aid some of the later planted soybeans. While Brazil remains largely in control of the global soybean market, low early yields and the delays in planting could boost U.S. exports, at least in the short-term.

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