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The slow harvest in Brazil “coupled with rain in the forecast” is helping U.S. soybean numbers move higher in the overnight trade, CHS Hedging said. “Chinese soybeans were up 18 ½ cents overnight,” they said.

“Relative to domestic demand, U.S. stockpiles are forecast to be record-tight later this year, and according to the USDA, not even a record crop this summer can ease the situation much by mid-2022,” Total Farm Marketing said.

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