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U.S. wheat futures extend losing streak as harvest progresses, with good crop condition and limited demand scenarios causing market pressure.
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May likely to go down as top-10 wettest on record; crop planting almost in line with five-year average.
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Persistent rain expected to ease in coming weeks, opening up time for planting to finish.
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Despite nearly 30 tornadoes, a derecho, and portions of the state reporting at least 350% of normal rainfall, corn planting and emergence continued across Iowa, says USDA in the latest Crop Progress report published May 28.