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CBOT grain prices close lower

Jan. 4, 2013 at 4:11 PM

CHICAGO, Jan. 4 (UPI) -- Grain futures prices, succumbing to weak demand, a strong dollar and good weather forecasts, were lower Friday on the Chicago Board of Trade.

Corn was off 1 1/4 to off 15 3/4, soybeans were off 14 to off 21 1/2, wheat was off 1 to off 10 and oats were off 1 1/4 to off 6 1/2.

Corn was pressured throughout the day by a strong dollar and weak demand as traders liquidated long positions, ending slightly lower for the week. Soybeans suffered double-digit declines as traders tried to cover short positions in advance of the USDA's January reports. Weather in South America also was a concern for both corn and soybeans. Lack of demand sent wheat lower as weather forecasts indicated marginal improvements for the near term and exports below expectations.

The prices:

Corn: Mar 6.80 1/4 off 9, May 6.80 3/4 off 10 1/4, Jly 6.74 3/4 off 11 3/4, Sep 5.94 1/2 off 15.

Soybeans: Jan 13.89 off 14, Mar 13.67 1/4 off 19 1/4, May 13.58 1/2 off 19 3/4, Jly 13.55 off 21 1/2.

Wheat: Mar 7.47 1/4 off 8 1/4, May 7.56 3/4 off 8, Jly 7.63 1/4 off 8, Sep 7.74 3/4 off 8 3/4.

Oats: Mar 3.32 3/4 off 5, May 3.38 1/2 off 6 1/2, Jly 3.44 off 5 3/4, Sep 3.45 off 1 1/4.

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