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Grains move higher Monday

Nov. 19, 2012 at 6:15 PM

CHICAGO, Nov. 19 (UPI) -- Grain futures closed higher on the Chicago Board of Trade Monday pushed by surging oil prices and congested ports in Brazil.

Corn was up 11 to up 11 3/4, soybeans were up 11 1/2 to up 15 1/4, wheat was up 3 3/4 to up 5 1/2 and oats were up 9 3/4 to up 11 1/2.

Corn found support from higher oil prices, triggered by concerns over supplies as tension escalated between Israel and Palestine. In addition, port congestion in Brazil delayed grain shipments, which gave U.S. sources for corn and soybeans a temporary edge. Wheat found spillover support from corn and soybeans, although trading was light.

Today's prices:

Corn: Dec 7.38 3/4 up 11 3/4, Mar 7.42 1/2 up 11 1/2, May 7.37 3/4 up 11, Jly 7.26 3/4 up 11 1/2.

Soybeans: Nov 13.94 3/4 up 11 1/2, Jan 13.82 up 14, Mar 13.65 3/4 up 14 1/4, May 13.58 3/4 up 15 1/4.

Wheat: Dec 8.41 3/4 up 3 3/4, Mar 8.57 3/4 up 4, May 8.64 up 3 3/4, Jly 8.51 1/4 up 5 1/2.

Oats: 3.75 1/2 up 11, Mar 3.86 up 11 1/2, May 3.87 1/2 up 10 1/4, Jly 3.89 up 9 3/4.

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