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On the Grains With no overnight trading due to the holiday, markets will just pick up where they left off at Wednesday’s close. They will likely start off on the defensive since it’s still first and foremost a “weather market” and yesterday’s 6-10 day outlook appears to offer both extremes for corn and soybeans what they most need, warmer and drier for the upper Corn Belt trying desperately to dry out so that soggy soils can “breathe” again while offering normal to better-than-normal rain for the Eastern Corn Belt and the southern half of the country from Texas to the Atlantic coast. It’s less favorable for the Northern Plains to the Pacific. It will be both hot and dry so irrigation rigs will need to run full tilt and dryland corn and beans could be stressed. It’s particularly ominous for spring wheat country so that could help lend support to the wheat complex today. Globally-speaking, the weather outlook varies. Heat and dryness are expanding again through eastern Ukraine and southern Russia over the next 10 days, but early yield reports from Russia keep coming in “better than expected” with nebulous meaning because nobody really knows “what was expected.” There are…

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