Soybeans rise; wheat falls

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CANBERRA – US soybeans edged higher on Tuesday as concerns about tight supplies amid dry weather in Brazil and strong demand for US exports underpinned prices.

Wheat edged lower, though losses were checked by uncertainty over Russian exports, while corn remained steady.

The most-active soybean futures on the Chicago Board Of Trade were up 0.2 percent at $12.63-1/2 a bushel, having closed 0.5 percent lower in the previous session.

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“There are some concerns about the state of crops in Brazil and the market is unsure about global supplies,” a Melbourne-based grains trader said, requesting anonymity as he is not authorized to speak with the media.

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