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Grains mostly higher

Jan. 7, 2013 at 6:09 PM

CHICAGO, Jan. 7 (UPI) -- Grain futures closed mostly higher Monday on the Chicago Board of Trade with weather turning drier in Argentina and wetter in Brazil.

Corn was up 2 1/4 to up 5 1/4, soybeans were up 18 1/2 to up 21 3/4, wheat was up 4 to up 6 1/4 and oats were off 2 1/2 to up 1 1/4.

Corn rose despite demand viewed as weak, a U.S. Department of Agriculture report released Monday showing cumulative shipments at 23 percent of export estimates versus a five-year average of 33 percent for this time of year. Wheat futures rose with afternoon gains prompted by the USDA report that showed export inspections in line with expectations. A weaker dollar also supported commodities Monday, giving soybean prices a boost.

The prices:

Corn: Mar 6.85 1/2 up 5 1/4, May 6.85 1/4 up 4 1/2, Jly 6.78 1/2 up 3 3/4, Sep 5.96 3/4 up 2 1/4.

Soybeans: Jan 14.10 3/4 up 21 3/4, Mar 13.88 1/2 up 21 1/4, May 13.77 3/4 up 19 1/4, Jly 13.73 1/2 up 18 1/2.

Wheat: Mar 7.51 1/4 up 4, May 7.61 up 4 1/4, Jly 7.67 3/4 up 4 1/2, Sep 7.81 up 6 1/4.

Oats: Mar 3.31 1/2 off 1 1/4, May 3.37 1/2 off 1, Jly 3.41 1/2 off 2 1/2, Sep 3.46 1/4 up 1 1/4.

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