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Grain futures close higher Friday on CBOT

Dec. 21, 2012 at 7:17 PM

CHICAGO, Dec. 21 (UPI) -- Grain futures traded higher Friday as traders evened up positions ahead of the weekend.

On the Chicago Board of Trade, corn was up 4 to up 5 1/2, soybeans were up 22 to up 24, wheat was steady to up 2 1/4, oats were up 5.

Soybeans were higher on speculative buying. While China's imports are down, overall demand is up, analysts said.

Corn was higher on ideas Argentina's corn production will be hurt by recent rainfall.

Wheat traded higher for most of the day but saw some selling pressure at the close.

The prices:

Corn: Mar 7.02 up 5 1/2, May 7.04 3/4 up 5, Jly 7.02 up 4 3/4, Sep 6.26 3/4 up 4.

Soybeans: Jan 14.30 3/4 up 22, Mar 14.29 1/4 up 24 1/2, May 14.18 3/4 up 24, Jly 14.13 1/4 up 22 3/6.

Wheat: Mar 7.92 up 1 1/2, May 8.02 unchanged, Jly 8.08 3/4 up 1, Sep 8.20 3/4 up 2 1/4.

Oats: Mar 3.64 3/4 up 5, May 3.72 1/4 up 5, Jly 3.74 1/4 up 5, Sep 3.63 3/4 up 5.

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