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Grain futures post modest gains

Dec. 28, 2012 at 6:17 PM

CHICAGO, Dec. 28 (UPI) -- Grain futures moved modestly higher Friday as fears of a budget impasse in Washington continued to create uncertainty in commodity markets.

On the Chicago Board of Trade, corn was up 2 1/4 to up 3 3/4, soybeans were up 4 to up 5 3/4, wheat up 4 1/2 to up 6 1/2 and oats were up 1/4 to up 4 1/4.

Corn futures rose after trading up and down, closing out the week with losses as traders focused on budget talks in Washington.

Wheat prices rose in cautious trading with a lack of recent tenders holding back gains.

Soybean futures also traded in a narrow range, making gains after slipping in the last two trading sessions.

The prices:

Corn: Mar 6.94 up 2 1/2, May 6.96 3/4 up 2 1/4, Jly 6.94 3/4 up 2 3/4, Sep 6.21 1/4 up 3 3/4.

Soybeans: Jan 14.24 up 5 1/4, Mar 14.18 up 4, May 14.09 1/2 up 4 1/2, Jly 14.07 1/4 up 5 3/4.

Wheat: Mar 7.78 3/4 up 6 1/2, May 7.88 1/2 up 6 1/4, Jly 7.95 up 5, Sep 8.08 up 4 1/2.

Oats: Mar 3.49 up 4, May 3.56 1/4 up 4 1/4, Jly 3.57 1/2 up 4 1/4, Sep 3.51 1/2 up 1/4.

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