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Grain futures up sharply Tuesday

September 15, 2009

Grain futures closed sharply higher on the Chicago Board of Trade Tuesday, despite the dollar’s gains against the euro and the yen.

Corn was up 28 to up 8 3/4, soybeans were up 49 to up 51, wheat was up 16 1/4 to up 16 1/2 and oats were up 11 3/4.

Corn futures rose as China said it sold 1.32 million metric tons in its weekly auction, a 29 percent drop from a week ago. Wheat prices rose with Egypt purchasing 240,000 metric tons from Russia Tuesday. Soybean prices were higher on growing concern over the risk of frost or freezing, traders said.

The prices:

Corn: Dec 3.46 1/2, up 28 3/4; Mar 3.59 3/4, up 28 1/2; May 3.69, up 28 1/2; Jul 3.77 1/2, up 28.

Soybeans: Nov 9.60, up 51; Jan 9.64, up 50 1/4; Mar 9.67 1/2, up 49 1/4; May 9.67, up 49.

Wheat: Dec 4.70 1/2, up 16 1/2; Mar 4.90 1/4, up 16 1/2; May 5.02 3/4, up 16 1/2; Jul 5.13 1/4, up 16 1/4.

Oats: Mar 2.30 1/4, up 11 3/4; May 2.39 1/4, up 11 3/4; Jul 2.48 3/4, up 11 3/4; Sep 2.58 3/4, up 11 3/4.


Source: upi



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