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Expectations of Syngenta settling Viptera lawsuits

There is no word from Syngenta about settling lawsuits related to the marketing of Agrisure Viptera seed, which resulted in China rejecting U.S. corn shipments, but there is speculation that settlements might happen if China follows through with importing such corn in the near future. At the same time as Chinese import approval is being talked about, law firms have announced they are expanding class-action lawsuits against Syngenta to include farmers in more states.

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Ag markets moved almost universally higher Thursday

Corn futures backed away from early Thursday highs. Surging equity markets reflect renewed optimism about the global economic & political outlook, which in turn seems bullish for grain demand prospects. Corn futures rallied significantly in early morning action, but slumped in the wake of the mediocre result on the weekly USDA Export Sales report. March corn futures close 2.75 cents higher at $4.11/bushel Thursday, while July added 3.0 to $4.2625.

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Russia curbs grain exports to all but a few countries

Russia, one of the world's main wheat exporters, has cut grain exports to all but a few countries after imposing tougher quality checks, an exporters' lobby group said on Wednesday.

The Agriculture Ministry had said on Tuesday it would avoid such curbs even though exports are at record levels following the rouble's slide against the dollar.

 Russia's Veterinary and Phytosanitary Surveillance Service (VPSS) said it had started to pay "special attention" to the quality of grain sent for export.

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