Soy, wheat rise on supply concerns

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    CHICAGO- US grain futures rose as soybeans traded near a 4-1/2-year high reached earlier this week on strong export demand and tightening domestic inventories.

    The soybean market appeared to be well supported at current prices, after the US Department of Agriculture ignited a rally with a report on Tuesday that projected US corn and soybean stockpiles at seven-year lows, said Tomm Pfitzenmaier, analyst for Summit Commodity Brokerage.