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Soybeans dip as market weighs tighter US stocks against broader supply outlook
CANBERRA: Chicago soybean futures edged lower on Wednesday as traders weighed whether a US Department of Agriculture report that unexpectedly forecast tighter US supplies was enough to reverse a weeks-long price slide. Corn futures also dipped slightly after rallying in the previous session when the USDA made bigger-than-anticipated cuts to its US production and inventory forecasts. Wheat futures rose, but gains were capped by the USDA saying harvests in Australia and Argentina would be bigger than it previously thought, adding near-term supply to the market. The most-traded soybean contract o...
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