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#FARMERS OPEN UP SILOS AS #CORN HITS ‘MAGIC’ PRICE LEVELS

Growers who have waited patiently for a rebound in prices have had their hopes answered after dry weather in Brazil threated crops and sent futures traded in Chicago to their highest in nine months. Growers have been stockpiling supplies following a string of bumper harvests, waiting for a rebound in prices. The best rally for corn prices in 10 months meant U.S. farmers were frantic to sell their grain. Corn futures for July delivery settled at $3.7975 Tuesday on the Chicago Board of Trade, as reported by  Bloomberg News.

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