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Analysts polled by Reuters expected the USDA to narrowly cut its estimates for US soybean production and yields.
Chicago Board of Trade December soymeal futures were up $2.70 at $317.90 per ton at 10:43 a.m. CST, off their earlier three-week high of $318.60. Soymeal was lifted in part by unwinding of soyoil-soymeal spreads, traders said.