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Grain futures post gains

Jan. 16, 2013 at 5:09 PM

CHICAGO, Jan. 16 (UPI) -- Grain futures rose Wednesday on the Chicago Board of Trade with the dollar mixed in Asia and Europe.

Corn was up 1/4 to up 4, soybeans were up 20 to up 23, wheat was up up 2 1/4 to up 3 and oats were up 1/2 to up 3/4.

Corn prices closed slightly higher after up and down trading, with support coming from reports of continued dry weather in Argentina. Wheat futures also rose as France sold 400,000 metric tons, which supported prices, although the sale implied supplies in Europe are abundant. Soybean prices rose sharply with strong demand in the meal market and rain in Northern Brazil that was seen as beneficial, although it would also delay the harvest in certain regions.

The prices:

Corn: Mar 7.31 1/4 up 3/4, May 7.13 1/4 up 1/2, Jly 7.21 1/4, up 1/4, Sep 6.18 up 4.

Soybeans: Mar 14.36 1/2 up 23, May 14.21 1/4 up 21 1/2, Jly 14.12 3/4 up 20, Aug 13.86 up 20 3/4.

Wheat: Mar 7.85 up 2 1/4, 7.93 3/4 up 2 3/4, 7.97 1/4 up 3, Sep 8.05 1/4 up 3.

Oats: Mar 3.57 1/4 up 3/4, May 3.62 3/4 up 1/2, Jly 3.66 1/4 up 3/4, Sep 3.65 1/2 up 3/4.

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