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SINGAPORE- Chicago soybean futures eased on Thursday after hitting a more than four-year high in the last session, although strong demand and concerns over global supplies kept a floor under the market.
Wheat slid for a second straight session to hit its lowest since Nov. 2, while corn lost more ground.
“I think concerns over supplies and demand have been factored into the market for wheat and soybeans at current price levels,” said one Singapore-based trader. “Corn could have more room to go higher, depending on Chinese purchases.”
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