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Soybeans Hit 6-Week High on Global Stimulus Expectations

Growing expectations of interest rate cuts to cushion impact of coronavirus outbreak help steady markets

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US soybean futures rose to a near six-week high on Tuesday, boosted by expectations for coordinated global stimulus steps to offset the broad economic impact of the coronavirus, reports Reuters.

Market sentiment got a boost from expectations that central banks worldwide will cut interest rates to soften the blow of the coronavirus.

The U.S. Department of Agriculture said 670,608 tonnes of US soybeans were inspected for export in the week ended Feb. 27, within analysts’ estimates.

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