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CBOT Grain and Soybean Futures Drop on Brazil's Lower Soybean Harvest Estimate
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Overview
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CBOT grain and soybean futures fell after the monthly USDA data showed a slightly lower soybean harvest estimate in Brazil. Despite this, the current crop is still expected to surpass the previous record. U.S. export sales to China contributed to the market's downward trend.
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How might the lower soybean harvest estimate in Brazil affect global soybean supplies?
What impact could this have on the U.S. soybean export industry?
What other factors are influencing the market's downward trend?
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