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Corn, soybeans, oats trade higher

Nov. 14, 2012 at 6:00 PM

CHICAGO, Nov. 14 (UPI) -- Grain futures were mixed on the Chicago Board of Trade Wednesday with wheat turning lower and corn, soybeans and oats making gains.

Corn was up 2 to up 3, soybeans were up 4 3/4 to up 13, wheat was off 1 3/4 to off 2 3/4 and oats were up 2 1/2 to up 7.

Corn found support from heavy rains expected in Argentina -- the U.S. Department of Agriculture declaring the U.S. harvest virtually complete. Wheat slid modestly, although Japan is becoming active in the market. The USDA pegged 36 percent of the winter wheat crop in good to excellent condition, a 2 percentage points drop from the previous report.

Soybeans made modest to sharp gains. China supported the market with a purchase of 120,000 metric tons of beans. Beyond that, 40,000 metric tons of oil was sold to an undisclosed destination.

Today's prices:

Corn: Dec 7.25 3/4 up 2 1/4, Mar 7.29 1/4 up 3, May 7.25 up 2 1/2, Jly 7.13 1/2 up 2.

Soybeans: Nov 14.32 3/4 up 5 3/4, Jan 14.19 up 11, Mar 13.98 3/4 up 13, May 13.77 1/4 up 4 3/4.

Wheat: Dec 8.48 3/4 off 2 1/4, Mar 8.64 off 1 3/4, May 8.70 3/4 off 1 3/4, Jly 8.58 3/4 off 2 3/4.

Oats: 3.67 1/2 up 3 3/4, Mar 3.76 1/2 up 4, May 3.77 1/4 up 2 1/2, Jly 3.78 3/4 up 7.

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