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Soybean, corn and wheat futures hold firm in the US

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By Mark Weinraub

CHICAGO, March 25 (Reuters) – Chicago Stock Exchange soybean, wheat and corn futures rose on Friday, recovering from falls in overnight trading.

* The strength in soybeans is due to signs that demand for US supplies remains strong, even with freshly harvested soybeans from South America available on the market.

* Corn futures will benefit from the squaring of positions ahead of a closely watched article on US Farmers Planting Planes to be released by the Government next week.

* Wheat futures rose after three straight days of declines as investors followed gains stemming from ongoing fighting between Russia and Ukraine.

* At 1558 GMT, Chicago May soybean futures were up 6 cents at $17.0675 a bushel.

* Exporters privately reported the sale of 132,000 tons of soybeans to China for delivery in the 2021/22 season, the US Department of Agriculture said on Thursday. It was the third time this week that the government has announced a so-called “quick sale” of supplies from the old crop.

* “US soybeans are cheaper than Brazil and Argentina as of September,” said Terry Reilly, principal commodity analyst at Futures International. “With the interim sales, it kind of confirms that the US is competitive.”

* May corn was up 4.5 cents at $7.5275 a bushel and May wheat was up 4.5 cents at $10.90 a bushel.

* Wheat had fallen in the previous three sessions, its longest losing streak since before Russia’s invasion of Ukraine disrupted shipments of those two key global testers.

(Edited in Spanish by Javier Leira)

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