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Grain futures turn a bit higher

Sept. 21, 2012 at 5:07 PM

CHICAGO, Sept. 21 (UPI) -- Grain futures were slightly to modestly higher Friday on the Chicago Board of Trade, with a lift provided by broad gains in equity markets.

Corn was up 1/4 to up 2 1/4, soybeans were up 3 to up 6, wheat was up 8 1/4 to up 17 3/4 and oats were up 2 3/4.

Corn prices rose nominally, with further disappointing crop yield reports. Wheat rose Friday, but ended the week moderately lower, with mixed weather reports from Australia. Soybeans rose, with supplies expected to tighten despite the harvest as the price spread is reducing the incentive to store soybeans.

The prices:

Corn: Dec 7.48 1/4 up 2 1/4, Mar 7.51 up 1 1/2, May 7.49 3/4 up 1 1/4, Jly 7.42 1/2 up 1/4.

Soybeans: Nov 16.21 3/4 up 3, Jan 16.22 up 4 1/4, Mar 15.79 1/2 up 3 3/4, May 15.26 up 6.

Wheat: Dec. 8.97 1/4 up 17 3/4, Mar 9.08 up 16 1/2, May 9.05 1/2 up 13 1/2, Jly 8.71 1/2 up 8 1/4.

Oats: Dec 3.76, Mar 3.81, May 3.81, Jly 3.79 1/4 -- all up 2 3/4.

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