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Chicago soybean futures are expected to rise for the fourth consecutive trading day and record the longest continuous rise since mid-May, as the results of the Midwest crop survey report fell short of expectations, and market concerns about the soybean supply prospects increased. Chicago's most actively traded soybean contract once rose 0.7%, driving the grain and oilseed markets higher. According to Pro Farmer crop survey data, the number of soybean pods in Nebraska and Indiana was lower than the average for the past three years; previous survey results in Ohio and South Dakota were also lower than the same period last year.
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Chicago soybean futures are expected to rise for the fourth consecutive trading day and record the longest continuous rise since mid-May, as the results of the Midwest crop survey report fell short of expectations, and market concerns about the soybean supply prospects increased. Chicago's most actively traded soybean contract once rose 0.7%, driving the grain and oilseed markets higher. According to Pro Farmer crop survey data, the number of soybean pods in Nebraska and Indiana was lower than the average for the past three years; previous survey results in Ohio and South Dakota were also lower than the same period last year.
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