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Grain futures lower Friday

Feb. 22, 2013 at 4:07 PM

CHICAGO, Feb. 22 (UPI) -- Grains closed mostly lower Friday on the Chicago Board of Trade with the dollar index up 0.1 percent to 81.44 on the International Exchange.

Corn was off 1/2 to off 1 1/2; soybeans were off 26 1/2 to off 28; wheat was off 4 to off 6 1/4 and oats were off 1 1/4 to off 2 1/4.

Corn dropped slightly with ethanol production up 1 percent in the latest week. In Brazil, dry weather is deemed as supportive for now of a second corn planting for the year.

Wheat prices fell as cumulative sales were reported at 78 percent of the U.S. Department of Agriculture forecast, compared to a five-year average of 84 percent.

Soybean futures dropped sharply as last week's sales cancellations were reflected in this week's sales report.

The prices:

Corn: Mar 6.90 1/4, off 1/2; May 6.84 1/4, off 1 1/4; Jly 6.71 3/4, off 1 1/2; Sep 5.73, off 1.

Soybeans: Mar 14.61 1/4, off 26 1/2; May 14.43 3/4, off 26 3/6; Jly 14.26 1/2, off 28; Aug 13.87 1/2, off 26 1/2.

Wheat: Mar 7.15, off 6 1/4; May 7.18 3/4, off 5 1/4; Jly 7.23 1/2, off 4 1/2; Sep 7.32 1/2, off 4.

Oats: Mar 3.88, off 1 1/2; May 3.85 1/4, off 2 1/4; Jly 3.81 1/4, off 1 1/4; Sep 3.78 1/4 off 1 1/4.

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