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Futures Close Report 11/01/22

Brazil – Conab reduced their 21/22 forecast for soybean and corn production: Soybeans seen at 140.5 million tonnes, down 1.6% (2.3mt) on last month; Corn production seen at 112.9mt down 4.2 million tonnes.   Falls attributed to yield loss following hot and dry conditions.  Markets await the latest USDA data.