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Grains close week higher

Dec. 5, 2012 at 7:22 PM

CHICAGO, Dec. 5 (UPI) -- Grain futures prices closed higher Wednesday on the Chicago Board of Trade with support provided by talk of China's return to the soybean market.

Corn was up 4 1/2 to up 6 3/4, soybeans up 22 3/4 to up 23 3/4, wheat was up 3 1/4 to up 3 3/4 to off 2 3/4 and oats were up 10 to up 12 3/4.

Corn followed soybeans higher, with the dollar index off 0.1 percent, leaving its influence near neutral. Gains in wheat prices were limited with Statistics Canada reporting crop estimates that beat expectations. Soybean futures found support from talk that China is back in the market and dry weather holding back crops in Brazil.

The prices:

Corn: Dec 7.53 1/4 up 6 3/4, Mar 7.57 3/4 up 5 3/4, May 7.58 1/2 up 5 1/2, Jly 7.52 3/4 up 4 1/2.

Soybeans: Jan 14.79 1/4 up 23 3/4, Mar 14.73 3/4 up 23 1/2, May 14.50 3/4 up 22 3/4, Jly 14.39 1/2 up 22 3/4.

Wheat: Dec 8.42 1/4 up 3 3/4, Mar 8.60 up 3 1/2, May 8.68 1/2 up 3 1/4, Jly 8.69 1/2 up 3 1/4.

Oats: Dec 3.80 up 12 3/4, Mar 3.97 up 12, May 4.01 1/4 up 11 1/2, Jly 3.99 1/4 up 10.

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