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U.S. markets recover from steep losses
CHICAGO, Jan. 30 (UPI) -- Grain futures closed lower Monday on the Chicago Board of Trade as the dollar index rose 0.36 percent.
Corn was off 6 3/4 to off 10, soybeans were off 32 1/4 to off 33 3/4, wheat was off 2 1/2 to off 4 1/4 and oats were off 3 1/2 to off 6 3/4.
Corn futures were unable to sustain last week's rally as the stronger dollar weighed on the market. Wheat prices slid modestly with the European debt crisis creating concerns over future demand. The soybean market was pressured by beneficial rain forecast for Argentina and improved conditions in Brazil.
The prices:
Corn: Mar 6.31 3/4 off 10, May 6.37 3/4 off 9 3/4, Jly 6.41 1/4 off 9 3/4, Sep 5.87 1/4 off 6 3/4.
Soybeans: Mar 11.85 1/4 off 33 3/4, May 11.95 1/4 off 33 1/4, Jly 12.05 off 33 1/4, Aug 12.04 off 32 1/4.
Wheat: Mar 6.44 3/4 off 2 1/2, May 6.58 3/4 off 3, Jly 6.71 1/4 off 3 1/2, Sep 6.86 1/2 off 4 1/4.
Oats: Mar 2.92 off 6 3/4, May 2.93 3/4 off 6 3/4, Jly 2.97 off 7 1/4, Sep 3.02 1/2 off 3 1/2.
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