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Grains trade lower in Chicago

CHICAGO, Dec. 3 (UPI) -- Grains closed mostly lower on the Chicago Board of Trade Wednesday in spite of a modest rally in New York stock markets.

Corn was unchanged to off 1/2, soybeans were off 1 3/4 to up 3, wheat was off 8 3/4 to off 9 1/4 and oats were off 1.

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Mexico increased its week's purchase of U.S. corn to 450,000 metric tons Wednesday. Wheat closed lower, in spite of the Australian wheat harvest being reported as a month behind and delayed further by rain. Soybeans prices fell although traders said bids from Midwest processors rose.

The prices:

Corn: Dec 3.32, off 1/2; Mar 3.48 1/4, unchanged; May 3.59 1/4, off 1/4; Jul 3.69 3/4, off 1/4.

Soybeans: Jan 8.30, up 3; Mar 8.35, up 1/2; May 8.43, off 1; Jul 8.51 1/4, off 1 3/4.

Wheat: Dec 5.00 3/4, off 9; Mar 5.19 3/4, off 8 3/4; May 5.33 1/4, off 9; Jul 5.46 1/4, off 9 1/4.

Oats: Dec 2.05 1/2, off 1; Mar 2.21, off 1; May 2.30 1/2, off 1; Jul 2.41, off 1.

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