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INVESTORS WEIGH SOYBEANS AND CORN DEMAND AND HARVEST

Soybean and corn futures were mixed in overnight trading, as investors weigh strong demand against harvest pressure.

Sales of soybeans since the start of the marketing year on September 1 are up 24% vs. the same time frame a year ago, according to the Department of Agriculture. Sales of corn have jumped almost 85% year over year, the USDA said in a report on Thursday. Still, 61% of corn and 76% of soybeans have been harvested so far, bringing supplies to the market. The USDA still believes production of both crops will be record high this year.

Soybeans for November delivery rose a penny to $10.26 a bushel on the Chicago Board of Trade. Soy meal futures for December delivery fell $1.60 to $326 a short ton, and soy oil rose 0.32¢ to 35.43¢ a pound. 

Corn futures for December delivery lost 1¢ to $3.56½ a bushel in Chicago.

Wheat futures for December delivery fell 1½¢ to $4.13 a bushel in Chicago, while Kansas City futures declined 1¢ to $4.16 a bushel.

Visit http://www.agriculture.com/news/crops/3-big-things-today-october-28 for more information