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Chicago soybeans slid more than 1 percent to its lowest since mid-September on Wednesday, weighed down crop-friendly weather and a lack of Chinese demand for U.S. supplies. The Chicago Board of Trade most-active soybean contract was down 1.2 percent at $9.43 a bushel by 0325 GMT, having dropped earlier in the session to the lowest since Sept. 12 at$9.42-1/2 a bushel."U.S. weather is looking good for the soybean crop and we have had a record crop from Brazil," said one India-based commodities analyst.  "Chinese buying is largely focused on Brazilian beans." The USDA raised its estimate of all U.S. wheat production for 2018/19 by 6 million bushels to 1.827 billion bushels; The USDA lowered its forecasts for U.S. corn and soy ending stocks for the 2018/19 crop year that begins on Sept. 1.Late on Monday it reduced good-to-excellent crop condition ratings for the corn and soy crops by 1 percentage point, butte ratings are still some of the best in years, while weekend rainfall in the Midwest also benefited crops. Commodity funds were net buyers of soy meal futures contracts on Tuesday and net sellers of soy oil futures, traders said.

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