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Soybeans Gain on China Demand

Improved U.S. rating lifts expectations for bumper crop

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Chicago soybeans rose on Wednesday, supported by solid demand from the world's biggest importer China, while corn ticked lower on good crop conditions, reports Reuters.

Wheat turned higher after falling for three consecutive sessions, but remained capped by expectations of higher Australian output and ample world supplies.

"China is key to soybean prices for now as they are buying U.S. beans," says Ole Houe, director of advisory services at agriculture brokerage IKON Commodities in Sydney.

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