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* A rally in US soy futures was triggering limited soybean sales to processors and elevators, traders said. However, some farmers were still waiting for higher prices.
* At 12:20 p.m. CDT (1720 GMT), Chicago Board of Trade July soymeal futures were up $10.60 at $297.90 a ton.
* The most-active soymeal contract rebounded after dropping to its lowest price since 2016 on Monday.