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Grains caught in global malaise

May 9, 2012 at 6:59 PM

CHICAGO, May 9 (UPI) -- Grain futures closed lower on the Chicago Board of Trade Wednesday as outside market forces and a higher dollar put pressure on commodities.

Corn was off 11 to off 24 3/4, soybeans were off 8 to off 10, wheat was off 13 1/2 to off 17 3/4 and oats were off 1/4 to off 1 3/4.

Corn prices fell with the dollar index up 0.36 percent and equities struggling to make headway in Asia, Europe and the United States -- and mostly not succeeding. Wheat prices fell as traders sought new positions in advanced of Thursday's supply and demand report. Soybean futures dropped as debt issues in Europe threatened to escalate in the wake of Sunday's election in Greece.

The prices:

Corn: May 6.41 1/4 off 24 3/4, Jly 6.07 1/4 off 15 3/4, Sep 5.27 off 11, Dec 5.16 3/4 off 11 1/4.

Soybeans: May 14.27 3/4 off 10, Jly 14.30 1/4 off 8, Aug, 14.16 1/4 off 9, Sep 13.63 off 8 1/4.

Wheat: May 5.91 1/4 off 17 3/4, Jly 6.00 off 15, Sep 6.14 3/4 off 14 1/4, Dec 6.39 off 13 1/2.

Oats: May 3.32 off 1/4, Jly 3.36 off 1 3/4, Sep 3.40 1/2 off 1, Dec 3.4 off 1/2.

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