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U.S. markets recover from steep losses
CHICAGO, Feb. 7 (UPI) -- Grains futures on the Chicago Board of Trade closed mostly lower with a bearish nudge from the U.S. dollar, which rose Tuesday.
Corn was off 2 to off 6 3/4, soybeans were off 1/2 to off 1, wheat was off 6 1/4 to off 8 3/4 and oats were off 4 3/4 to up 1/2.
Corn futures fell with negotiations continuing in Athens, Greece, over financial mandates that will allow it to tap in international bailout fund before obligations come due in March. Expanding corn planting expectations are also putting pressure on prices. Wheat futures dropped modestly, pressured by the dollar, which was offset slightly by a 25,000 metric ton tender issued by Tunisia. Soybean futures found support from talk of lower yield expectations in South America. Private exporters on Tuesday reported a sale of 20,000 metric tons of soybean oil to Morocco.
The prices:
Corn: Mar 6.42 1/4 off 2, May 6.48 1/2 off 2 3/4, Jly 6.52 1/2 off 3 3/4, Sep 5.98 1/2 off 6 3/4.
Soybeans: Mar 12.32 off 1, May 12.41 off 1, Jly 12.50 3/4 off 1, Aug 12.49 off 1/2.
Wheat: Mar 6.62 1/4 off 6 1/4, May 6.72 1/4 off 7 1/2, Jly 6.84 3/4 off 7 1/4, Sep 7.00 1/2 off 8 3/4.
Oats: Mar 3.27 3/4 up 3/4, May 3.17 off 3 3/4, Jly 3.15 off 4 3/4, Sep 3.15 off 3.
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