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Soybeans, corn up on decline in crop ratings

Soybeans were sharply higher on commercial and technical buying. The USDA’s national good to excellent rating slipped 1%, continuing the “tale of two crops” pattern seen this growing season, and there was also spillover from the strength in soybean meal. Soybean meal was supported by strong domestic cash demand. Bean oil was up with a higher move in Malaysian palm oil. The USDA is expected to lower its yield estimate Friday, with further reductions probable in the coming months.

Soybeans, corn up on decline in crop ratings

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