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Grain futures lower Friday

Oct. 12, 2012 at 4:55 PM   |   Comments

CHICAGO, Oct. 12 (UPI) -- Grain futures were mostly lower at the close on the Chicago Board of Trade Friday as traders shored up positions ahead of the weekend.

Corn was off 20 to off 20 1/2, soybeans were off 26 to off 28 3/4, wheat was off 20 1/4 to off 29 1/4 and oats were up 3 1/4 to 3 1/2.

Non-commercial long-liquidation hammered grains Friday. Corn erased Thursday's gains, as lack of follow-through indicated bullish fundamentals already had been factored into the market. Soybeans finished near weekly lows, making them vulnerable to technical-based selling next week. Wheat suffered from profit-taking and pressure from corn. Oats bucked the trend.

The prices:

Corn: Dec 7.52 3/4 off 20 1/2, Mar 7.52 3/4 off 20 1/2, May 7.47 1/4 off 20 1/2, Jly 7.40 1/2 off 20.

Soybeans: Nov 15.22 1/2 off 26, Jan 15.22 off 26 1/2, Mar 14.92 off 28 3/4, May 14.49 3/4 off 28 1/2.

Wheat: 8.56 3/4 off 29 1/4, Mar 8.69 1/4 off 27 3/4, May 8.72 3/4 off 25, Jly 8.41 1/4 off 20 1/4.

Oats: Dec 3.92 up 3 1/2, Mar 3.95 up 3 1/2, May 3.93 1/2 up 3 1/4, Jly 3.93 up 3 1/4.

© 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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