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Corn, Soy Slip on Rains, Crop Ratings

Cooler, wetter weather welcomed in grain belt

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U.S. grain and soybean futures extended losses on Tuesday as crops in the American Midwest were poised to benefit from rains, traders said.

According to a report at Reuters, technical selling and better-than-expected U.S. Department of Agriculture crop condition ratings added pressure on prices.

Showers in parts of the Midwest and Mississippi Delta temporarily eased concerns about the risk for damage to corn and soybeans from hot, dry weather.

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