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Soybeans slump in Tuesday’s session, with wheat seeing mixed results Red-hot grain prices cooled on Tuesday – with a couple of exceptions – on some profit-taking after rising substantially higher in recent sessions. Nearby corn contracts continued to boost higher, closing a hair below $7 per bushel, although July contracts were down slightly. Wheat prices were moderately mixed amid some uneven technical maneuvering. Soybeans showed the most downside, losing double digits and closing more than 1.25% lower today. A band of rains stretching from Texas through southern Indiana could throw another 2” or more on the ground between Wednesday and Saturday, per the latest 72-hour cumulative precipitation map from NOAA. Wetter-than-normal conditions could extend from May 4 to May 10 along the upper Midwest and Great Lakes region, according the agency’s latest 8-to-14-day outlook, with seasonally dry conditions developing across the Central and Southern Plains during this time.

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