Grain futures rebound mostly

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CHICAGO, Sept. 19 (UPI) -- Grain prices closed mostly higher Wednesday as traders reversed course after sharp losses Monday and Tuesday.

Corn was up 13 to up 16 1/2, soybeans were up 22 to up 30, wheat was up 18 to up 20 1/2 and oats were off 1 1/4 to up 1 3/4.

Outside of market influences -- specifically, a U.S. complaint against China filed with the World Trade Organization concerning alleged subsidies in the automobile industry -- had put pressure on corn prices Monday and Tuesday. Market forces re-asserted themselves Wednesday, prompting the upward correction. Wheat price rallied with help from the U.S. dollar, which was weaker across most of Asia and mixed in Europe. The soybean market was given a boost when the Bank of Japan announced a round of quantitative easing, which helped Japanese equities on Wednesday, as well.

The prices:

Corn: Dec. 7.56 1/2 up 16 1/2, Mar 7.58 3/4 up 14 3/4, May 7.56 1/2 up 13, Jly 7.49 up 13 1/2.

Soybeans: Nov 16.69 1/2 up 29 1/2, Jan 16.69 1/4 up 30, Mar 16.27 up 27 1/4, May 15.58 up 22.

Wheat: Dec 8.81 1/2 up 18, Mar 8.93 3/4 up 18, May 8.95 up 19 1/4, Jly 8.66 1/2 up 20 1/2.

Oats: Dec 3.75 3/4 up 1 3/4, Mar 3.80 unchanged, May 3.80 off 1 1/4, Jly 3.78 1/4 off up 1 1/4.