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Corn & Soybeans Bounce After Losses Caused by USDA Data

November 11, 2015 at 18:55 by Vladimir Vyun

Corn and soybeans bounced today following yesterday’s losses. The grains dropped on Tuesday after the release of a bearish report from the US Department of Agriculture.

The USDA predicted that US production of corn would be at 13.7 billion bushel in 2015. If that is the case, it would be the third biggest figure on the record.

Soybeans output is expected to be at 3.98 billion bushels, up 2 percent from the October forecast. That would be highest production on the record.

December contract for corn gained 0.77 percent to $3.6175 per bushel as of 18:53 GMT on CBoT today. January futures for soybeans advanced 0.26 percent to $8.5775 per bushel.

If you have any questions and comments on the commodities today, use the form below to reply.

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