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Soybeans Rise After USDA Report, Other Grains Join Rally

June 17, 2015 at 17:41 by Vladimir Vyun

Soybeans rallied today, reaching the highest price in five weeks. Other grains advanced as well. The reason for the rally was concerns about quality of the crop. The US Department of Agriculture reported on Monday that 67 percent of soybean crop was in good or excellent condition last week. This is down from 69 percent the week before and compared to 73 percent in the same period last year.

November futures for delivery of soybeans rallied 1.35 percent to $9.4 per bushel as of 17:37 GMT on CBoT today. Earlier, the contract reached $9.6863 the highest price since May 12. September corn climbed 1.39 percent to $3.6475 per bushel. Wheat advanced 0.86 percent to $4.9875 per bushel.

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

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