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US wheat futures rallied on Wednesday to their highest in more than seven months, supported by concerns that dry conditions in the US Plains might damage dormant crops in that key production region. The benchmark Chicago Board of Trade May soft red winter wheat contract notched the biggest gains, surging 3.3 percent as technical buyers stepped into the market after it broke through its 200-day moving average for the first time since August 10.

Copyright Reuters, 2018

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