Soybean futures advance on U.S. supply concerns : comparemel

Soybean futures advance on U.S. supply concerns


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CHICAGO — Chicago Board of Trade soybean futures jumped on Monday on concerns about strong export demand tightening U.S. supplies and smaller-than-expected plantings.
The market refocused on supply worries after being closed on Friday for Good Friday.
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The U.S. Department of Agriculture shocked traders last week by reporting that U.S. farmers plan to sow 91.1 million acres with corn this spring and 87.6 million acres with soybeans. Both estimates were well below analysts’ expectations for 93.2 million corn acres and 89.996 million soybean acres.

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