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Grain futures follow stocks lower

September 1, 2009

Grain futures closed sharply lower on the Chicago Board of Trade Tuesday as equities stumbled on Wall Street and oil prices fell.

Corn was off 9 3/4 to off 14, soybeans were off 13 1/2 to off 86; wheat was off 11 1/2 to off 11 3/4 and oats were off 7 1/2 to off 9 1/2.

Corn futures fell despite a sale of 120,000 metric tons to Mexico Tuesday. Wheat dropped as progress in the harvest is replenishing stocks. Soybean futures dropped with weather showing improvements in China.

The prices:

Corn: Sep 3.12 1/4, of 14; Dec 3.19 1/4, off 10 1/2; Mar 3.32 1/2, off 10; May 3.41 1/2, off 9 3/4.

Soybeans: Nov 9.33, off 13 1/2; Sep 10.14, off 86; Nov 9.55 1/2, off 24; Jan 9.59 1/2, off 21 3/4.

Oats: Sep 2.03 1/4, off 7 1/2; Dec 2.15 1/2, off 9 1/2; Mar 2.28 1/4, off 9 1/2; May 2.37, off 9 1/2.


Source: upi



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