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Corn up modestly, soybeans close firm

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Soybeans were modestly higher on short covering and technical buying, finding some support near the recent lows. Soybeans continue to monitor development and harvest conditions in South America. Argentina’s in generally good shape, while Brazil’s harvest should hit the halfway point very soon, which could mean beans will put in a seasonal low soon. The USDA’s next round of supply and demand estimates is out March 8th, with CONAB’s updated outlook for Brazil set for March 12th.

Corn up modestly, soybeans close firm