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Grains futures close mostly lower

July 15, 2009

Grain futures closed mostly lower on the Chicago Board of Trade Wednesday in spite of a strong rally in U.S. stock markets.

Corn was off 7 3/4 to off 9, soybeans were off 13 to off 14, wheat was up 4 1/4 to up 5 and oats were off 3/4 to off 1.

Corn futures were lower as a cool weather pattern in July indicated a high yield could be expected. Wheat prices rose with support from a weaker dollar. Favorable weather for soybeans in the Midwest put downward pressure on soybean prices, traders said.

The prices:

Corn: Sep 3.29 1/2, off 9; Dec 3.37 1/2, off 8; Mar 3.51, off 7 3/4; May 3.60 1/2, off 7 3/4.

Soybeans:Aug 10.20 1/2, off 14; Sep 9.50 1/2, off 13; Nov 9.04 1/2, off 13 1/2; Jan 9.12 1/4, off 13 3/4.

Wheat: Sep 5.34 3/4, up 4 3/4; Dec 5.61 1/2, up 5; Mar 5.79 1/2, up 4 3/4; May 5.79 1/2, up 4 1/4.

Oats:Sep 2.17 1/2, off 3/4; Dec 2.29, off 1; Mar 2.40 1/2, off 1; May 2.48 1/2, off 1.


Source: upi



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