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DTN Closing Grain Comments    02/27 13:40
   Soybeans, Meal Buck Bearish Trend Amid Continued Meltdown

   Despite the ongoing meltdown in world financial and commodity markets,
soybeans and soybean meal were able to rebuff bearish influences to close
higher. The likely impetus for that strength was twofold: Argentina's decision
to suspend export licenses, along with expectations for a 3% rise in soy and
product export taxes, and the fact that on Tuesday China will begin to accept
tariff-free license requests to import U.S. soybeans and ag products. The Dow
Jones average at one point on Thursday had plunged 10 1/2% from the recent
high, while spot crude has plunged nearly $9 from the high six days ago.
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