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Grain futures mixed Tuesday

May 29, 2012 at 6:28 PM   |   Comments

CHICAGO, May 29 (UPI) -- Grain markets closed mixed Tuesday on the Chicago Board of Trade with crop progress ahead of historic averages in corn, soybeans, wheat and oats.

Corn was off 4 to off 16, soybeans were up 4 1/4 to up 5 1/4, wheat was off 17 1/2 to off 23 1/4, oats were off 13 3/4 to off 15 3/4.

Corn crop progress remains ahead of its five-year average, but farmers reported conditions had slipped slightly in the week, the U.S. Department of Agriculture said in a weekly report delayed by Memorial Day. Soybean prices rose with 61 percent of the crop emerged compared with a historic average of 30 percent for this week of the year. The winter wheat harvest is 9 percent done, ahead of the 1 percent done by this time of year. With spring wheat, 96 percent of the crop has emerged. The 2007-2011 average is 68 percent by this week of the year.

The prices:

Corn: Jly 5.62 1/2 off 16; Sep 5.22 1/2 off 4; Dec 5.17 off 4; Mar 5.27 1/2 off 5 1/4.

Soybeans: Jly 13.86 3/4 up 4 3/4; Aug 13.67 1/4 up 5 1/4; Sep 13.26 3/4 up 5; Nov 12.93 1/2 up 4 1/4.

Wheat: Jly 6.56 3/4 off 23 1/4; Sep 6.72 1/4 off 22 1/4; Dec 6.95 off 20 1/2; Mar 7.13 1/2 off 17 1/2.

Oats: Jly 2.80 1/2 off 15 3/4; Sep 2.85 off 14 3/4; Dec 2.91 1/4 off 14 3/4; Mar 2.99 1/2 off 13 3/4.

© 2012 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.
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