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Wheat, corn up, also see weekly gains

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Soybeans were lower on fund and technical selling, capping off a bearish week. Soybeans saw another round of liquidation and spillover from crude oil, watching Brazil’s record harvest move forward. The Buenos Aires Grain Exchange slashed its outlook for Argentina’s crop by 4 million tons to 29 million due to drought. That’s potentially the smallest crop in about two decades and there’s room for that number to fall further. The record crop in Brazil might not be enough to fully make up for the losses in Argentina.

Wheat, corn up, also see weekly gains