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Commodities

Crop Tour Numbers Weigh Heavy on Soybean and Corn Markets

Guavy AI Editorial Team
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Corn
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Soybean and corn prices rose on technical buying, with traders watching crop tour numbers for guidance. The USDA's upcoming sales report is expected to show bullish new crop numbers due to increased business with China.

China's main grain storage company has auctioned off another 308,000 tons of beans from state reserves this week, freeing up space for recently purchased U.S. beans.

Crop tour results have generally implied lower production in key growing areas following weather issues over the last couple of months.

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