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Kansas City wheat futures traded lower this morning, with rain in the forecast later in the week for U.S. winter wheat areas, traders said. Dry conditions in recent weeks have raised concerns regarding emergence of the winter wheat crop, and the rain should bring some relief, traders added. CBOT corn and soybean futures were also lower this morning, coming off of a heavy harvest weekend. Crop progress reports will be released this afternoon, and the soybean harvest is expected to be 80 to 85% complete, while corn is estimated at 70% complete, traders said.
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