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“December corn futures tested the 200-day moving average at 437 and failed to push through, triggering selling and some long liquidation. Bearish technical action today may lead to additional selling pressure into Friday’s session,” Total Farm Marketing said. “The United States and China appear close to reaching a trade agreement, and the prospect of improved Chinese demand supported the soybean market. Strength in soybeans may have helped limit selling pressure in corn during the session.”