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Corn higher, soybeans lower on CBOT

March 1, 2013 at 6:42 PM

CHICAGO, March 1 (UPI) -- Economic concerns tied to the U.S. government sequestration resulted in choppy trading Friday on the Chicago Board of Trade.

Corn closed higher after a day of choppy trading but was unable to pull soybeans along in the face of mostly bearish outside markets, analysts said. Profit-taking ahead of the weekend also weighed on soybeans. Wheat closed higher on strong gains for the U.S. dollar and gains in corn.

Corn was up 1 1/2 to 5; soybeans were off 3 3/4 to off 9 3/4; wheat was up 4 1/2 to up 6 and oats were up 1 to up 10 3/4.

The prices:

Corn: Mar 7.24 1/4 up 4 3/4; May 7.08 1/2 up 5; May 6.87 up 2 1/4; Jly 6.87 up 2 1/4; Sep 5.84 1/4 up 1 1/2.

Soybeans: Mar 14.64 1/2 off 9 3/4; May 14.43 1/2 off 8 3/4; Jly 14.27 1/4 off 8; Aug 13.88 off 3 3/4.

Wheat: Mar 7.13 1/4 up 5 1/2; May 7.20 1/2 up 6; Jly 7.22 1/4 up 5 3/4; Sep 7.29 3/4 up 4 1/2.

Oats: Mar 4.02 1/2 up 10 3/4; May 3.79 3/4 up 2 1/2; Jly 3.72 1/4 up 1; Sep 3.69 1/4 up 1.

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