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Grain futures slide Thursday

Dec. 27, 2012 at 5:59 PM   |   Comments

CHICAGO, Dec. 27 (UPI) -- Grain futures traded lower Thursday as fears of a budget impasse in Washington continued to create uncertainty in commodity markets.

On the Chicago Board of Trade, corn was off 1 3/4 to off 2 1/4, soybeans were off 2 1/2 to off 5 3/4, wheat off 3/4 to off 2 1/4 and oats were off 7 to off 7 1/4

Corn futures declined slightly with marginal pressure provided by the U.S. dollar -- the dollar index up 0.05 percent on the International Exchange.

Wheat prices slipped with no significant tenders issued in the holiday-shortened week.

Soybean futures dropped with the harvest in Brazil about a month away and traders expecting a slowdown in sales of U.S. soybeans.

The prices:

Corn: Mar 6.91 1/2 off 1 3/4, May 6.94 1/2 off 2, Jly 6.92 off 2 1/4, Sep 6.17 1/2 off 2.

Soybeans: Jan 14.18 3/4 off 5 3/4, Mar 14.14 off 4 1/2, May 14.05 off 4 1/4, Jly 14.01 1/2 off 2 1/2.

Wheat: Mar 7.72 1/4 off 2 1/4, May 7.82 1/4 off 2 1/4, Jly 7.90 off 1 1/2, Sep 8.03 1/2 off 3/4.

Oats: Mar 3.53 off 7, May 3.60 1/2 off 7 1/4, Jly 3.61 3/4 off 7, Sep 3.51 1/4 off 7.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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