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Flooding Cuts Corn Rating, Soybeans Jump on Cofco Buy

7/10/2026

46 9 Full Breakdown

Summary

Story summary

U.S. grain and cattle markets mixed on Tuesday as weather and short-covering moved futures.
Flooding in the Corn Belt lowered corn rating to 67% good-to-excellent, prompting forecasts for dry weather.
Funds that shorted 45,000 corn contracts bought back 35,000 and sit neutral before the Friday USDA report.
Soybeans rose 5-10 cents after Cofco bought five to six cargoes, while December corn futures met resistance at $4.70 per bushel.

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Story summary

U.S. grain and cattle markets mixed on Tuesday as weather and short-covering moved futures.
Flooding in the Corn Belt lowered corn rating to 67% good-to-excellent, prompting forecasts for dry weather.
Funds that shorted 45,000 corn contracts bought back 35,000 and sit neutral before the Friday USDA report.
Soybeans rose 5-10 cents after Cofco bought five to six cargoes, while December corn futures met resistance at $4.70 per bushel.