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Grain futures mixed on CFTC ruling

August 19, 2009

Grain futures closed mixed on the Chicago Board of Trade after the Commodity Future Trading Commission denied two firms exemptions to trading limits.

Corn was up 4 3/4 to up 5 1/2, soybeans were off 2 1/4 to up 1 1/2, wheat was off 4 1/2 to off 4 3/4 and oats were unchanged.

Corn futures closed as the dollar fell against the euro Wednesday. Wheat prices found support from Egypt’s purchase of 210,000 metric tons of soft wheat. The U.S. Department of Agriculture announced a 205,000 metric ton sale to China, its third major purchase this week.

The prices:

Corn: Sep 3.20, up 5 1/2; Dec 3.27 1/2, up 5; Mar 3.41 1/4, up 5; May 3.50 1/2, up 4 3/4.

Soybeans: Sep 9.97, up 1 1/2; Nov 9.58, off 1; Jan 9.63, off 1 1/2; Mar 9.64 3/4, off 2 1/4.

Wheat: Sep 4.66, off 4 1/2; Dec 4.93 1/2, off 4 3/4; Mar 5.12 3/4, off 4 1/2; May 5.24 3/4, off 4 3/4.

Oats: Sep 2.03 1/4; Dec 2.17; Mar 2.30; May 2.38 — all unchanged.


Source: upi



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