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Another round of gains for soybeans, corn

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Soybeans were higher on short covering and technical buying, along with the higher move in bean meal. Contracts remain oversold with traders watching weather in South America. Argentina could be mostly dry into February, but updated forecasts have improved chances of rainfall for parts of central Brazil this week. That stretch comes during key development phases in South America and early harvest activity in Brazil. The USDA’s next supply and demand report and CONAB’s updated outlook for Brazil are both out February 8th.

Another round of gains for soybeans, corn

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