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Grain futures close lower Thursday

October 1, 2009

Grain futures closed lower on the Chicago Board of Trade Thursday as equities on Wall Street tumbled hard on the first day of the fourth quarter.

Corn was off 3 1/2 to off 3 3/4, soybeans were off 7 1/4 to off 9 1/4, wheat was off 4 1/2 to off 6 1/2 and oats were off 9 to off 10.

Corn futures dropped with rain currently slowing the Midwest harvest. Wheat prices fell with export sales at 41.6 percent of the forecast, more than 10 percentage points behind the five-year rolling average. Soybean sales, in contrast, at 57.9 percent of the forecast are far ahead of the five-year average of 30.4 percent.

The prices:

Corn: Dec 3.40 1/2, off 3 1/2; Mar 3.53 1/4, off 3 1/2; May 3.62, off 3 3/4; Jul 3.70 1/4, off 3 1/2.

Soybeans: Nov 9.18, off 9; Jan 9.24 1/4, off 9 1/4; Mar 9.24 3/4, off 8 3/4; May 9.20 3/4, off 7 1/4.

Wheat: Dec 4,52 3/4, off 4 3/4; Mar 4.72 1/2, off 4 1/2; May 4.84 3/4, off 4 1/2; Jul 4.96 3/4, off 6 1/2.

Oats: Dec 2.24, off 9; Mar 2.37 1/2, off 9; May 2.46, off 9 1/2; Jul 2.55, off 10.


Source: upi



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