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SUPPLY EXPECTATIONS SEND CORN PRICES UP

Corn prices jumped to a one-year high after federal forecasters trimmed their estimates of this year’s U.S. harvest and lowered the outlook for near-term supplies of the grain.  Soybeans prices also rose, buoyed by lower-than-expected forecasts for domestic stockpiles. Corn prices for July delivery rose six cents to $4.2725 a bushel on the Chicago Board of Trade. Soybeans prices for July delivery rose 5.75 cents to $10.435 a bushel, as reported by the Wall Street Journal.

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