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In October, wheat harvesting wraps up and the harvesting of maize and soybeans begins across the northern hemisphere. In the southern hemisphere, wheat crop is developing, and farmers are starting to plant maize and soybeans. Rice harvests are ongoing in China and Southeast Asia. Overall, crop prospects are good. In September, wheat, maize, and rice prices generally declined, owing to ample supplies and strong competition among exporters. However, soybean prices stayed firm in Brazil and the United States, balancing out price drops in Argentina caused by changes in export taxes. Despite these positive trends, ongoing trade tensions have triggered adjustments in trade flows of some commodities, with potential implications on farmers' margins in producing countries and consequently future planting decisions.
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