In the overnight session the grains were mixed with corn down ½ a cent, soybeans up 3 ½ cents, Chicago wheat down 2 cents and Kansas City Wheat down 1 ¼ cents.
Heavy snow over the weekend in Northwestern Kansas, Nebraska, Western Iowa and into Minnesota dropped between 6-14 inches, stressing livestock and disrupting transportation. The snow provided welcome moisture in Kansas and Nebraska but missed the driest areas of Southern Kansas, Oklahoma and the Texas Panhandle.
Argentina weather is expected to bring more precipitation to the north for the rest of the week, as the central and southern parts of the growing region stay mostly dry with scattered thunderstorms. The weather models are showing that continued dryness is expected next week into the beginning of February. Weather in Brazil is expected to continue bringing favorable growing conditions to the country.
Export inspections were reported on Monday despite the government shutdown over the weekend. This week 668,946 metric tons of corn was inspected for export which was well below analyst estimates which ranged from 800,000-1,050,000 metric tons. Soybean inspections were reported at 1.419 million metric tons which was on the high side of analyst expectations and wheat inspections were reported at 337,980 metric tons which met expectations this week.
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