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Soybeans, Coffee Rises with Higher Demand; Wheat Falls

December 16, 2009 at 0:28 by Vladimir Vyun

Soybeans went up to the highest in two weeks with rising demand in China and U.S. Prices was also boosted by drought in Brazil and Argentina, decreasing soybeans exports from these countries in 2009. March futures for soybean delivery went up $0.0025 to $10.62 per bushel on the Chicago Board of Trade.

Coffee futures touched a record in 15 months on outlook that yield will drop in Brazil and Vietnam, the largest producers in the world. Coffee prices may also rise with colder weather boosting demand. March futures for Arabica-coffee delivery increased $0.0135 (0.9 percent) to $1.4725 per pound on ICE.

Wheat slid as the stronger dollar forced down demand for exports from the U.S. As crop is being harvested in Australia, while some countries like Canada and France also have wheat for sale, it looks like supply just exceeds demand. March futures for wheat delivery slid $0.0675 (1.2 percent) to $5.3675 per bushel on CBT.

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