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Soybean futures rise, against the tide

May 24, 2012 at 6:46 PM

NEW YORK, May 24 (UPI) -- Soybean futures rose while corn, wheat and oats fell on the Chicago Board of Trade, with the U.S. dollar mixed in Asia and higher in most of Europe.

Corn was off 8 to off 25, soybeans were up 13 1/2 to up 18 1/2, wheat was off 2 1/2 to up 1 1/4, oats were off 20.

Corn futures headed higher early but turned lower after an export sales report showed light sales for current year and 2012-13 contracts. Wheat export sales came to 72,400 metric tons for 2011-12 and 754,600 metric tons for 2012-13. Soybeans made gains as traders sensed a bullish market environment.

The prices:

Corn: Jly 5.78 1/2 off 25, Sep 5.18 1/4 off 10 3/4, Dec 5.15 off 8, Mar 5.26 1/2 off 8.

Soybeans: Jly 13.76 up 13 1/2, Aug 13.56 1/4 up 13 3/4, Sep 13.13 1/4 up 18 1/4, Nov 12.56 1/4 up 18 1/2.

Wheat: Jly 6.63 off 1/2, Sep 6.78 1/4 off 1 1/2, Dec 7.00 off 1/2, Mar 7.16 3/4 up 1 1/4.

Oats: Jly 3.05, Sep 3.09, Dec 3.15 1/2, Mar 3.13 1/2 -- all off 20.

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