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Grains mixed on lower yield estimates

Sept. 12, 2012 at 4:35 PM

CHICAGO, Sept. 12 (UPI) -- Grain futures closed mixed Wednesday on the Chicago Board of Trade as the U.S. Department of Agriculture dropped their yield estimates for corn and soybeans.

Corn was off 11 1/4 to off 7 1/4, soybeans were up 43 3/4 to up 45, wheat was up 5 1/4 to up 7 and oats were off 3 to off 1/2.

Corn futures slid with the USDA projecting a crop of 10.7 billion bushels, down 1 percent from an estimate released in August. Soybean production was pegged at 2.63 billion bushels, a 2 percent drop from the estimate released in August.

Wheat prices rose modestly as the dollar gave commodities priced in U.S. currency a boost, the dollar index dropping 0.2 percent to 79.73 on the International Exchange.

The prices:

Corn: Sep 7.71 off 11 1/4, Dec 7.69 1/2 off 8 1/4, Mar 7.73 1/4 off 8, May 7.71 off 7 1/4.

Soybeans: Sep 17.40 3/4 up 44 1/4, Nov 17.45 3/4 up 44 1/4, Jan 17.44 1/2 up 43 3/4, Mar 16.93 3/4 up 45.

Wheat: Sep 8.67 up 7, Dec 8.90 up 6 1/4, Mar 9.02 3/4 up 7, May 9.00 1/4 up 5 1/4.

Oats: Sep 3.80 1/2 off 3, Dec 3.87 off 1/2, Mar 3.89 off 3/4, May 3.88 3/4 off 1 1/4.

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