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Corn Futures Extend Gains, Soybeans Down From 6-Month Highs

Corn prices continued to rise on Tuesday, while other agricultural commodities were mixed as traders continued to weigh last week's crop report from the U.S. Department of Agriculture.

Although the government estimates an unusually large corn crop will be planted, May corn was up another 3.2 cents to $6.582 a bushel on the Chicago Board of Trade.

This despite figures showing that farmers intend to plant the most corn since 1937.

Meanwhile, May soybeans dropped 4.2 cents to $14.166 a bushel -- down a bit after touching their highest in six months.

The May wheat contract edged up 1 cent to $6.58 a bushel, adding to big gains from the past two sessions.

July cotton was down 0.54 cents to 93.03 cents per lb on the Chicago Board of trade, as traders weighed Friday's news that U.S. farmers were planning bigger crops than markets were expecting.

by RTT Staff Writer

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