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Corn, wheat advance on fears as Ukraine conflict escalates, soybeans rise

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December corn closed up 3 cents at $6.7025 a bushel (Image: REUTERS/Dane Rhys)

The futures contracts wheat It’s from corn advanced on Wednesday at the Chicago Stock Exchange, due to fears of an escalation in the conflict between the main exporters of grains, Russia and Ukrainesaid traders.

Soybean ended with a slight increase, with the strength of corn and wheat offsetting the pressure of the expansion of the Soy us USA. A drop in futures contracts on rival Malaysian palm oil also limited the oilseed’s gains in Chicago.

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Red soft winter wheat December contract closed up 31.75 cents, or 3.6%, at $9.0325 a bushel.

Red winter hard wheat was up 32.75 cents at $9.76 a bushel, while December spring wheat was up 29-1/4 cents to finish at $9.7250.

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December corn closed up 3 cents at $6.7025 a bushel.

The Buenos Aires grain exchange projected the 2022/23 corn production of the Argentina at 50 million tonnes, down from 52 million tonnes a year earlier due to drought.

November soybeans closed up 0.75 cents at $14.0875 a bushel.

December soybean meal ended down 90 cents at $412.70 a short ton, while December soybean oil dropped 0.24 cents to finish at 62.15 cents a lb after hitting 60, 75 cents, the lowest since Aug.


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Source: Moneytimes

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