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Grain futures slide Friday

September 4, 2009

Grain futures closed lower on the Chicago Board of Trade Friday, turning in a fourth consecutive day of falling prices.

Corn was off 9 to off 10 1/2, soybeans were off 18 1/2 to off 21, wheat was off 7 to off 7 1/4 and oats were off 1 1/4.

Corn futures fell on favorable Midwest weather patterns preceding the harvest season. Wheat prices dropped despite continued calls for freezing weather in northern Canadian growing areas. Soybean futures dropped in sympathy with oil, which fell overnight on the New York Mercantile Exchange.

The prices:

Corn: Sep 3.00 1/2, off 10 1/2; Dec 3.06 1/4, off 9 1/2; Mar 3.19 3/4, off 9 1/4; May 3.29 1/4, off 9.

Soybeans: Sep 9.61, off 21; Nov 9.22, off 19 1/2; Jan 9.27, off 18 1/2; Mar 9.27 3/4, off 18 1/2.

Wheat: Sep 4.44, off 7 1/4; Dec 4.71 3/4, off 7; Mar 4.91 1/2, off 7; May 5.03 3/4, off 7 1/4.

Oats: Sep 1.95 3/4, off 1 1/4; Dec 2.07 3/4, off 1 1/4; Mar 2.20 3/4, off 1 1/4; May 2.29 3/4, off 1 1/4.


Source: upi



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