Grain futures hold steady Tuesday

Posted on Jul 18, 2012 in Business | 0 comments

Grain futures were little changed on the Chicago Board of Trade Tuesday despite deteriorating field conditions for corn and soybeans.

Corn was off 1 1/4 to up 2 3/4, soybeans were unchanged to up 5 1/4, wheat was up 27 3/4 to up 36 1/4, oats were unchanged.

The U.S. Department of Agriculture’s weekly crop progress report showed sharp declines in farmer assessments of corn and soybean crops, but much of the decline has already been priced into the market. The spring wheat report showed less deterioration there, while the winter wheat crop is mostly harvested by this time of the year.

The prices:

Corn: Sep 7.79 1/2 up 2 3/4, Dec 7.71 1/4 off 1 1/4, Mar 7.71 3/4 off 3/4, May 7.68 1/2 up 1.

Soybeans: Aug 16.39 up 5 1/4, Sep 16.12 3/4 up 3 1/4, Nov 15.90 1/2 unchanged Jan 15.86, off 1/4.

Wheat: Sep 8.85 up 1/2, Dec 8.97 1/4 off 1/2, Mar 9.03 off 3/4, May 8.89 1/2 off 2 1/4.

Oats: Sep 3.77 3/4 off 2 1/2, Dec 3.80 1/4 off 2, Mar 3.85 1/4 off 1 1/2, May 3.90 3/4 off 1 1/2.

Copyright 2012 by United Press International