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U.S. markets recover from steep losses
CHICAGO, Dec. 18 (UPI) -- Grains closed mostly higher on the Chicago Board of Trade Thursday as oil prices fell 10 percent in New York to the lowest price since June 2004.
Corn was unchanged to off 1/2, soybeans were up 5 1/2 to up 5 3/4, wheat was up 12 3/4 to up 14 and oats were unchanged.
Corn prices held steady as an Israeli firm purchased 25,000 metric tons Thursday. Wheat gained sharply with Argentina dropping its forecast to 9 million bushels from 10.1 million. Argentina also dropped its soybean expectations, claiming 17.8 million hectares were in production rather than 18 million.
The prices:
Corn: Mar 3.89 1/2, unchanged; May 4.00 1/4, off 1/4; Jul 4.10 3/4, off 1/4; Sep 4.21, off 1/2.
Soybeans: Jan 8.69 1/2, up 5 1/2; Mar 8.74 1/2, up 5 1/2; May 8.86, up 5 1/2; Jul 8.97 1/4, up 5 3/4.
Wheat: Mar 5.71 1/2, up 14; May 5.84 1/4, up 14; Jul 5.96 1/2, up 14; Sep 6.17 1/4, up 12 3/4.
Oats: Mar 2.22, unchanged; May 2.31, unchanged; Jul 2.40 1/2, unchanged; Sep 2.50, unchanged.
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