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Soybeans Bounce from Lows, Corn & Wheat Join in Rally

August 29, 2014 at 0:00 by Vladimir Vyun

Soybeans rallied today as low prices attracted traders. Prices fell previously on the forecast of a record harvest in the United States.

The US Department of Agriculture released its projections for US agricultural trade. The agency predicted that low prices should lead to an increase of soybean export volume to a new record in 2015. At the same time, export value is still expected to fall $4.0 billion to $20.0 billion.

Other grains also performed well today. Corn and wheat demonstrated a sizeable rally.

November contract for delivery of soybeans advanced 0.49 percent to $10.2875 per bushel as of 23:56 GMT on CBoT today. Prices fell to a four-year low of $3.4800 per bushel on August 12. December corn added 1.16 percent to $3.6925 per bushel, while wheat rose as much as 1.69 percent to $5.7175 per bushel.

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

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