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Grain futures trade lower Friday

Posted on: Friday, 5 June 2009, 15:38 CDT

Grain futures traded consistently lower Friday on the Chicago Board of Trade as the dollar rose against the euro and the yen.

Corn was off 3 1/2 to off 4 1/2, soybeans were off 4 1/2 to off 19 3/4, wheat was off 10 1/2 to off 12 1/4 and oats were off 5 3/4 to off 7 1/2.

Corn futures traded lower as heavy rain is expected to be followed by unseasonably hot weather in the Midwest. Wheat closed lower with beneficial dry weather expected in the wheat belt in Argentina. Soybean futures dropped on expectations total acres planted will exceed U.S. Department of Agriculture estimates.

The prices:

Corn: Jul 4.44, off 4 1/2; Sep 4.54, off 4 1/4; Dec 4.67 1/2; off 4; Mar 4.78 1/4, off 3 1/2.

Soybeans: Jul 12.25 1/2, off 4 1/2; Aug 11.71 1/2, off 6 1/2; Sep 11.01, off 14 1/2; Nov 10.61 3/4, off 19 3/4.

Wheat: Jul 6.23, off 12 1/4; Sep 6.51, off 12 1/4; Dec 6.76, off 11 3/4; Mar 6.93 3/4, off 10 1/2.

Oats: Jul 2.56, off 7 1/2; Sep 2.65 1/2, off 7 1/4; Dec 2.78, off 6 3/4; Mar 2.90 1/2, off 5 3/4.

Source: United Press International

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