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Grain prices mostly lower Monday

May 11, 2009

Grain futures closed mostly lower on the Chicago Board of Trade Monday as an upward trend in U.S. stock markets also stalled.

Corn was off 1/2 to up 1/2, soybeans were off 4 to up 4 1/2, wheat was off 1/4 to unchanged and oats were up 2 1/4 to up 6 1/2.

Corn prices fell slightly as planting, still behind its historic average, is about 50 percent completed as of this week, the U.S. Department of Agriculture said. Wheat also fell with the USDA reporting the winter wheat crop progressing near its historic average. Soybeans planting is 14 percent done, against an average of 25 percent for this time of year.

The prices:

Corn: May 4.13 1/2, off 1/2; Jul 4.21 1/4, up 1/4; Sep 4.29 1/2, unchanged; Dec 4.40 1/4, up 1/2.

Soybeans: May 11.30, off 4; Jul 11.16, up 4 1/2; Aug 10.76, up 2 1/2; Sep 10.25, up 3 1/2.

Wheat: May 5.80 1/2, unchanged; Jul 5.90 3/4, off 1/4; Sep 6.17, off 1/4; Dec 6.39 1/4, unchanged.

Oats: May 2.28 1/2, up 6 1/2; Jul 2.32 1/2, up 6 1/2; Sep 2.41, up 6 1/2; Dec 2.53 1/2, up 6 1/4.


Source: upi



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