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Grains mostly lower Tuesday

Feb. 12, 2013 at 5:21 PM

CHICAGO, Feb. 12 (UPI) -- Grain futures prices closed mostly lower on the Chicago Board of Trade Tuesday as the dollar index dropped 0.42 percent on the International Exchange.

Corn was off 6 to up 3 3/4, soybeans were off 2 1/2 to off 10 3/4, wheat was off 8 1/4 to off 9 3/4 and oats were off 1 1/2 to off 3 1/4.

Corn prices adjusted to weak demand sentiment as traders considered the possibility an increase in corn planting that would mitigate concerns over tight supplies. Wheat futures were pressured by a spillover effect from corn and favorable conditions for winter wheat. Soybeans shifted lower with traders cautious about taking long positions with importers likely to switch soon to South American sources.

The prices:

Corn: Mar 6.96. 1/4 off 6, May 6.95 1/2 off 6, Jly 6.87 off 5, Sep 5.81 1/4 up 3 3/4.

Soybeans: Mar 14.20 3/4 off 10 3/4, May 14.09 1/2 off 7 3/4, Jly 14.01 off 6, Aug 13.66 3/4 off 2 1/2.

Wheat: Mar 7.32 off 9 1/2, May 7.39 1/2 off 9 3/4, Jly 7.41 1/4 off 9 1/2, Sep 7.50 3/4 off 8 1/4.

Oats: Mar 3.77 3/4 off 3 1/4, May 3.69 3/4 off 2 3/4, Jly 3.68 off 1 1/2, Sep 3.67 1/4 off 1 1/2.

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