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Corn, Soy May Rise as Dryness Threatens South American Crops
27.12.2010 11:55 "Agro Perspectiva" (Kyiv) —
Corn may rise for a sixth straight week and soybeans may gain on speculation that hot, dry weather will damage crops in Brazil and Argentina, the two biggest exporters after the U.S.
Seventeen of 24 traders and analysts surveyed in the U.S. on Dec. 23 said corn will rise, and 19 of 25 respondents said soybeans will advance for the fifth time in six weeks. Last week, corn futures for March delivery climbed 2.9 percent to $6.14 a bushel on the Chicago Board of Trade. Soybean futures for March delivery rose 3.8 percent to $13.60 a bushel.
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