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Traders take profits overnight

10/12/2012 @ 8:29am

US grain and soybean futures are trading lower, pressured by traders taking profits after Thursday's strong gains. Investors are taking some profits off the table ahead of the weekend, cautious of extending the Thursday's rally until some fresh demand arises after digesting USDA crops reports, analysts say.

 CBOT Dec corn is down 4c at $7.69/bushel, Dec wheat is down 7c at $8.79, and Nov soy is down 14c at $15.34 1/2. (andrew.johnsonjr@dowjones.com)

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