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Grains lower Wednesday

March 25, 2009

Grains closed lower on the Chicago Board of Trade Wednesday in spite of the dollar falling against the euro and the yen.

Corn was off 7 3/4 to off 8, soybeans were off 16 to off 18, wheat was off 24 1/2 to off 27 and oats were off 4.

Corn closed lower with traders anticipating the first Planting Intentions Report due next week. Wheat prices fell sharply with rain continuing in the Plains, 1 inch expected in some of the drier areas. Soybeans were off, in spite of Brazil’s rain-delayed harvest and a farmer’s strike in Argentina disrupting supply lines

The prices:

Corn: May 3.85 3/4, off 8; Jul 3.96 1/4, off 8; Sep 4.05 1/4, off 8; Dec 4.17 1/2, off 7 3/4.

Soybeans: May 9.51, off 16; Jul 9.46, off 17 3/4; Aug 9.27, off 18; Sep 8.95, off 17 1/2.

Wheat: May 5.08, off 27; Jul 5.20 3/4, off 26 3/4; Sep 5.46 1/4, off 25 3/4; Dec 5.69 3/4, off 24 1/2.

Oats: May 1.93 1/2, off 4; Jul 2.02 1/4, off 4; Sep 2.11 1/4, off 4; Dec 2.26, off 4.


Source: upi

Topics: Avena, Fodder, Cereals, Sports, Oat


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