Grain futures mixed Thursday

Posted on Aug 17, 2012 in Business | 0 comments

Futures closed mixed on the Chicago Board of Trade Thursday as the dollar index dropped 0.34 percent to 82.40 on the International Exchange.

Corn was up 2 1/4 to up 3 3/4, soybeans were off 3 1/2 to off 10 3/4, wheat was up 15 to up 15 1/2 and oats were up 7 to up 7 1/4.

Corn futures rose slightly with help from the weaker dollar, but pressure coming from a reports that a record crop in Brazil would result in shipments going to the United States, where a drought has hurt production.

Wheat prices also found support from the dollar and news from South America, as the Argentina Agriculture Ministry reduced their wheat acreage estimate slightly.

Although dry weather has stressed the U.S. soybean crop, improved conditions recently have impacted prices. Weather is expected to show improvements in the Midwest through the end of August.

The prices:

Corn: Sep 7.97 3/4 up 3 3/4, Dec 8.07 1/2 up 3 1/2, Mar 8.07 1/4 up 3, May 8.00 1/2 up 2 1/4.

Soybeans: Aug 16.56 1/4 off 3 1/2, Sep 16.25 1/4 off 9 1/4, Nov 16.14 3/4 off 10 3/4, Jan 15.34 1/4 off 6 3/4.

Wheat: Sep 8.61 3/4 up 15, Dec 8.81 3/4 up 15 1/2, Mar 8.91 1/2 up 15 1/2, May 8.74 1/2 up 15 1/4.

Oats: Sep 3.83 1/2 up 7 1/4, Dec 3.83 1/4 up 7, Mar 3.85 up 7, May 3.88 up 7.

Copyright 2012 by United Press International