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Soybeans Hit 3-Week High

Wheat rebounds on supply concerns


Chicago wheat futures bounced back on Monday, reversing a two-day down trend as prices were supported by dry conditions that threaten to reduce global supply, reports Reuters.

Soybeans climbed to a three-week high as strong demand for U.S. supplies underpinned prices.

The Chicago Board Of Trade most-active wheat contract gained 1% to $5.35-3/4 a bushel by 0258 GMT, having closed down 1.1% on Friday.

Soybeans were up 0.2% to $8.87-1/4 a bushel, after climbing to their highest since July 9 at $8.96-1/2 a bushel. Corn was up 0.4% to $3.77-3/4 a bushel.

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