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Grain futures lower on CBOT

Dec. 7, 2012 at 6:49 PM

CHICAGO, Dec. 7 (UPI) -- Grain futures closed lower Friday on the Chicago Board of Trade.

Corn was off 11 1/2 to off 15, soybeans off 10 to off 19, wheat was off 1 to up 3/4 and oats were off off 5 to off 6 3/4.

Analysts said commercial selling sent the grain markets lower Friday ahead of the weekend. Corn was lower on profit-taking on the strength of the dollar reports of Taiwan buying corn from Taiwan.

Soybeans were lower on the day but higher for the week as traders prepare for Tuesday's supply and demand report. Soybean stocks are expected to remain tight.

The prices:

Corn: Dec 7.32 3/4 off 15, Mar 7.37 1/4 off 14 1/4, May 7.39 1/4 off 14 1/4, Jly 7.35 1/2off 11 /12.

Soybeans: Jan 14.72 off 19, Mar 14.72 off 14, May 14.53 off 10 1/2, Jly 14.41 1/2 off 10.

Wheat: Dec 8.44 1/4 off 1, Mar 8.61 off 1, May 8.70 1/4 off 3/4, 8.73 3/4 up 3/4.

Oats: Dec. 3.74 3/4 off 6 1/2, Mar 3.91 1/2 off 6 3/4, May 3.94 3/4 off 6 1/2, Jly 3.93 1/2 off 5.

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