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Corn, soybeans limit-up at mid-day

Jeff Caldwell 10/08/2010 @ 11:24am Multimedia Editor for Agriculture.com and Successful Farming magazine.

Propelled by Friday morning's bullish USDA Crop Production numbers, corn and soybeans remain locked limit-up at mid-day, while the wheat trade has backed off slightly.

At mid-day, nearby corn remains locked at $5.28 1/4 per bushel, up the 30-cent daily trading limit that triggers the lock, while nearby soybeans locked up at $11.35 per bushel, up the 70-cent limit. Only nearby wheat -- at 55 3/4 cents higher per bushel -- is trading at mid-day.

Friday's USDA report trimmed yields for both U.S. corn and soybeans, fueling the big-time bullish move in the trade that analysts say should have some staying power through the remainder of fall, into the winter and possibly up until the planters roll next spring.



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