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Crude Oil & Soybeans Register Losses

October 28, 2014 at 1:56 by Vladimir Vyun

Crude oil fell today as analysts expect an expansion of US stockpiles. Specialists estimated ahead of the official report that inventories expanded by 3.3 million barrels last week. Crude dropped as recent economic reports from the United States were not particularly good. December futures for delivery of WTI crude oil dropped 0.60 percent to $80.51 per barrel as of 01:17 GMT on NYMEX today. Brent crude lost 0.70 percent to $85.23 per barrel on ICE.

Soybeans registered losses too at the early Tuesday session. Forecasters predict dry weather in the US Midwest, and it should allow farmers to accelerate harvest. The grain was rising previously as rains delayed crop gathering. Contract for January soybeans fell 0.20 percent to $10.1075 per bushel on CBoT today.

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