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Grains, soy stumble overnight

09/01/2011 @ 8:22am

US grain and soybean futures stumbled overnight and poised to follow that theme in day session trading, as traders bank profits on strong gains scored in August.

Weak economic data out of Europe led to lower prices in world financial markets, and subsequently enticed traders to reduce risk exposure in grain futures, analyst say.

However, declines remain limited by threat of tightening grain supplies in 2012, analysts add.

CBOT Dec corn was down 1% at $7.59 3/4/bushel; Dec wheat down 1.5% at $7.79 1/2; Nov soy dropped 0.8% to $14.46. (andrew.johnsonjr@dowjones.com)

(END) Dow Jones Newswires

September 01, 2011 08:48 ET (12:48 GMT)

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