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U.S. markets recover from steep losses
CHICAGO, Dec. 9 (UPI) -- Grain futures closed mostly lower on the Chicago Board of Trade Wednesday as harvest-halting winter weather blanketed much of the Midwest and Northeast.
Corn was off 1 1/2, soybeans were off 15 to off 15 3/4, wheat was off 4 1/4 to off 4 3/4 and oats were up 1 1/2 to up 2 1/2.
Corn futures fell despite the dollar's decline against the euro and the yen. Wheat prices fell despite concerns weather conditions would slow sales. China's purchase of 110,000 metric tons of U.S. soybeans Wednesday gave support to prices, which declined in sympathy with falling crude oil prices.
The prices:
Corn: Dec 3.68; Mar 3.83 1/2; May 3.94 1/2; Jul 4.04 1/4 -- all off 1 1/2.
Soybeans: Jan 10.28 1/2, off 15 1/2; Mar 10.37 3/4, off 15; May 10.45 3/4, off 15 1/4; Jul 10.52, off 15 3/4.
Wheat: Dec 5.15, off 4 1/4; Mar 5.35 1/4, off 4 1/2; May 5.48 1/2, off 4 1/4; Jul 5.58 1/2, off 4 3/4.
Oats: Dec 2.44 1/2, off 2 1/2; Mar 2.54 1/2, off 1 1/2; May 2.63, off 1 1/2; Jul 2.72, off 1 1/2.
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