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Soy, Wheat Hit New Lows

Big supplies overshadow rainy U.S. weather

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U.S. soybean futures fell for a third straight session on Tuesday and struck fresh contract lows in most months as burdensome global stocks and sluggish U.S. exports dragged prices lower, triggering technical selling.

According to Reuters, wheat futures, too, posted contract lows as better-than-expected U.S. winter crop conditions added to pressure from largely beneficial crop weather in key production areas around the globe.

Corn prices followed soybeans and wheat lower, although losses were tempered by worries over spring planting delays in the U.S. Midwest due to wet soils and a rainy forecast into mid-May.

Read the full report at Reuters.

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