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Grains mixed Thursday

Jan. 24, 2013 at 5:58 PM

CHICAGO, Jan. 24 (UPI) -- Grain futures closed mixed Thursday with traders keeping an eye on Argentina's weather forecasts, which say beneficial rain is possible for the next two weeks.

Corn was off 3 3/4 to up 31 1/2 to up 3 3/4, soybeans were off 1 3/4 to off 3, wheat was off 6 1/4 to off 7 1/2 and oats were unchanged to up 3.

Corn was held in check by weather expectations in Argentina although a report pegged ethanol stockpiles slightly down for the week, off 1.4 percent to 20.1 million barrels.

Wheat dropped modestly. With a lack of directly relevant news, wheat prices were at the mercy of the mood in the broader market.

Soybean futures posted double-digit losses early, but recovered most of the early losses on bullish export news.

The prices:

Corn: Mar 7.241/4 up 3 3/4, May 7.24 1/4 up 1 1/2, Jly 7.15 1/4 off 1 3/4, Sep 6.08 1/4 off 3 3/4.

Soybeans: Mar 14.35 1/4 off 1 3/4, May 14.23 3/4 off 3, Jly 14.17 1/2 off 2 1/4, Aug 13.92 1/2 off 2.

Wheat: Mar 7.79 1/4 off 6 1/4, May 7.88 1/2 off 6 3/4, Jly 7.93 1/4 off 6 1/2, Sep 7.92 1/2 off 7 1/2.

Oats: Mar 3.61 up 1 1/4, May 3.67 3/4 unchanged, Jly 3.73 1/2 up 2, Sep 3.73 3/4 up 3.

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