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Commodities

Soybeans Hit Three-Year Highs on Crude Oil Rally and Strong Export Demand

Guavy AI Editorial Team
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Soybean futures at the Chicago Board of Trade (CBOT) surged to three-year highs on Thursday, bolstered by a rally in crude oil and solid export demand.

The U.S. Department of Agriculture reported flash sales of 272,000 tonnes of soybeans to China and an additional 206,500 tonnes to unknown destinations, contributing to the gains.

Average trade guesses suggest small cuts to yields and production from the August forecast ahead of Friday's monthly USDA supply/demand estimates.

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