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Grains rise ahead of break

Dec. 24, 2012 at 4:35 PM

CHICAGO, Dec. 24 (UPI) -- Grain futures traded higher Monday with buying light ahead of a holiday break.

On the Chicago Board of Trade, corn was up 1 3/4 to up 2 1/4, soybeans were up 6 1/2 to up 9, wheat up 1 1/2 to up 2 1/4 and oats were up 1/4.

Corn was minimally higher, rising off of last week's five-month low.

Wheat traded higher with short covering and limited buying as traders looked to minimize risk before the Christmas holiday break.

Wheat and corn also remain tightly linked.

Forecasts called for rain in Brazil across the country's soybean belt.

The prices:

Corn: Mar 7.04 1/4 up 2 1/4, May 7.06 3/4 up 2, Jly 7.03 3/4 up 1 3/4, Sep 6.28 1/2 up 1 3/4.

Soybeans: Jan 14.39 3/4 up 9, Mar 14.35 3/4 up 6 1/2, May 14.26 3/4 up 8, Jly 14.21 1/2 up 8 1/4.

Wheat: Mar 7.93 3/4 up 1 3/4, May 8.03 1/2 up 1 1/2, Jly 8.10 1/4 up 1 1/2, Sep 8.23 up 2 1/4.

Oats: Mar 3.65 up 1/4, May 3.72 1/2 up 1/4, Jly 3.74 1/2 up 1/4, Sep 3.64 up 1/4.

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