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Soybeans Ease After Rally

Hopes of Chinese demand limit losses

Soybeans row

Chicago soybean futures slid on Monday, as the market took a breather after climbing to its highest since early April in the previous session on expectations of strong Chinese demand, reports Reuters.

Wheat lost more ground on U.S. winter crop harvest, while corn slid after three sessions of gains.

“U.S. spot soybeans are at a deeper discount to Brazil soybeans,” Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia, told Reuters. “That discount is one important tick in the box for China’s importers to keep buying U.S. beans.”

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