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Soybeans close 11¢ lower

Updated: 02/12/2014 @ 6:33pm

DES MOINES, Iowa ()Agriculture.com--On Wednesday, the CME Group soybean markets took the brunt of the pressure, as China announced canceling a previous order of U.S. soybean purchases.

At the close, the March corn futures contract settled 1 1/2 cents lower at $4.40. The March soybean futures contract ended 11 3/4 cents lower at $13.23. March wheat futures closed 3 1/4 cents lower at $5.87 per bushel. The March soymeal futures contract ended $5.70 per short ton lower at $443.50. The March soyoil futures finished $0.14 higher at $38.99.

In the outside markets, the NYMEX crude oil is $0.17 per barrel higher, the dollar is higher, and the Dow Jones Industrials are 55 points lower.

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02/13/2014 @ 7:37am well played cbot,usda released a bullish report that you idiots did not want so you ignored for a few days then pulled out you ace in your pocket. There had been rumors of the china cancellation for awhile now so you waited until you needed some bearish news to knock the prices down so you confirmed it wed to play your ace, well played cbot.

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