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Corn & Wheat Fall, Soybeans Avoid Losses

September 18, 2014 at 7:28 by Vladimir Vyun

While soybeans managed to log gains earlier this week and continued to rally today, most other crops were not so lucky. Corn and wheat were among losers as traders are still anticipating record yields.

The US Department of Agriculture predicted that global output for wheat will reach a record 719.95 million metric tons. The forecast for other grains was also very positive.

Grain prices experienced losses last year too. Corn dropped 25 percent, soybeans declined 27 percent and wheat fell 23 percent.

December futures for corn lost 0.15 percent to $3.4125 per bushel as of 7:19 GMT on CBoT today. Contract for wheat fell 0.20 percent to $4.9825 per bushel. Meanwhile, November soybeans advanced 0.31 percent to $9.8550 per bushel.

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