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While not as dramatic as steep hikes in corn prices, predictions of an unprecedented U.S. soybean crop have not reversed the upward price trend for either commodity.

Cash bids for corn hit US$7.73 per bushel in the wake of news from the U.S. Department of Agriculture (USDA) that surveyed farmers intend to shift 4 million acres of corn to soybeans and other crops, according to Jim Mintert, director of the Center for Commercial Agriculture at Purdue University.

Soybean prices rise despite record crop projections | Feed Strategy