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Harvest and planting pressure grain prices

Oct. 2, 2012 at 5:06 PM

CHICAGO, Oct. 2 (UPI) -- Grain futures closed lower in Chicago Tuesday with the dollar index flat, but pressure provided by harvest progress and winter wheat planting.

Corn was off 1 to up 1 1/2, soybeans were off 27 to off 19 3/4, wheat was off 5 to off 13 and oats were off 5 3/4 to off 6 1/4.

Corn prices fell as the harvest made strong gains in the week, reaching 54 percent completion from the previous week's 39 percent. Wheat futures fell with strong progress in winter wheat planting -- 40 percent done compared with 25 percent in the previous week. Soybean prices despite an international tender issued by Taiwan for 180,000 metric tons.

The prices:

Corn: Dec 7.58 1/4 up 1 1/2, Mar 7.59 3/4 off 1/4, May 7.55 off 3/4, Jly 7.47 1/2 off 1.

Soybeans: Nov 15.30 1/2 off 29 3/4, Jan 15.33 1/4 off 29 3/4, Mar 15.01 3/4 off 27 3/4, May 14.61 1/2 off 27.

Wheat: Dec. 8.71 1/2 off 12 3/4, Mar 8.83 off 13, May 8.84 1/2 off 10 1/2, Jly 8.48 3/4 off 5.

Oats: Dec 3.60 1/4 off 6 1/4, Mar 3.66 off 5 3/4, May 3.67 1/4 off 5 3/4, Jly 3.65 1/2 off 5 3/4.

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