facebook
twitter
rss
account
search
search
 

China lends support to grain futures

Nov. 24, 2010 at 5:47 PM   |   Comments

CHICAGO, Nov. 24 (UPI) -- Grain futures closed higher Wednesday on the Chicago Board of Trade as China encouraged banks to increase lending for grain purchases.

Corn was up 10 1/4 to up 10 3/4, soybeans were up 16 to up 18 1/4, wheat was up 4 to up 5 1/2 and oats were up 1/2 to up 3/4.

Corn futures found support from China with the dollar index flat, falling 0.06 percent. Wheat futures lost ground to corn and soybeans as Tunisia rejected bids for a 25,000 metric ton tender. Beneficial rain in Argentina reportedly will encourage increased soybean planting, but concern over grain shortfalls in China pulled soybean futures higher before the Thanksgiving break.

The prices:

Corn: Dec. 5.38 3/4, up 10 1/4; Mar 5.53 3/4, up 10 3/4; May 5.61 1/2, up 10 3/4; Jul 5.65, up 10 1/2.

Soybeans: Jan 12.55, up 16; Mar 12.62 3/4, up 16 1/2; May 12.63 1/4, up 17; Jul 12.66 1/4, up 18 1/4.

Wheat: Dec 6.47 1/2, up 5 1/2; Mar 6.85 1/4, up 4 1/2; May 7.10, up 4 1/2; Jul 7.21 3/4, up 4.

Oats: Dec 3.48 1/4, up 3/4; Mar 3.60 1/2, up 1/2; May 3.65 3/4, up 1/2; Jul 3.71, up 1/2.

© 2010 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Destroyers with ballistic missile defense capability heading to Japan Destroyers with ballistic missile defense capability heading to Japan
2
Brazil, Argentina to strenghten aerospace cooperation; talk Gripen deal Brazil, Argentina to strenghten aerospace cooperation; talk Gripen deal
3
Little girls drop F-bombs for feminism in new FCKH8 video Little girls drop F-bombs for feminism in new FCKH8 video
4
Maker of Camel cigarettes bans smoking in workplace Maker of Camel cigarettes bans smoking in workplace
5
Warren Buffett loses $2 billion in 2 days on investments Warren Buffett loses $2 billion in 2 days on investments
Trending News
Around the Web
x
Feedback