Many traders expect the favorable crop weather to prompt the U . S . Department of Agriculture to increase its corn and soybean production estimates in a report Friday.
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After rising sharply on Monday, soybeans reversed course as nearly perfect crop weather set in across South America _ the No . 1 competitor to the U . S . crop.
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Poor crop weather has hampered seed germination and prompted speculation that the Brazilian crop will be smaller than the 23.3 million metric tons forecast by the U . S . Agriculture Department.
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Poor crop weather has hampered seed germination and prompted speculation that the Brazilian crop will be smaller than the 23 . 3 million metric tons forecast by the U . S . Agriculture Department.
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He said the good crop weather in Brazil and Argentina may prompt even heavier farmer selling of U . S . soybeans this month, since a large South American soybean crop would drive down prices.
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CHICAGO ( AP )-Grain and soybean futures prices finished mostly lower Thursday on the Chicago Board of Trade amid slower export demand for U . S . grain and fine crop weather in South America.
