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Wheat futures climbed on Monday, following a six-session streak of declines, after a monthly report from the U.S. Department of Agriculture revealed a lower forecast for 2021/2022 supplies. The USDA cut its outlook for all wheat U.S. production by 152 million bushels to 1.7 billion bushels and pegged the all-wheat crop yield at 45.8 bushels per acre, down 4.9 bushels from last month’s forecast.
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