Grain futures turn lower

Posted on Aug 2, 2012 in Business | 0 comments

Grain futures slipped on the Chicago Board of Trade Wednesday as the dollar rose and data showed manufacturing activity slowing in the United States and Asia.

Corn was off 1/4 to off 6, soybeans were off 11 1/2 to off 38 3/4, wheat was off 5 1/2 to off 15 1/4 and oats were off 9 1/4 to off 15 1/4.

Corn prices fell with this the average U.S. yield estimate at 165 bushels per acre, up from 163.5 last month. The wheat yield estimate was raised by 1 bushel per acre to 46.9 bushels per acre. Yields for soybeans in the U.S. Department of Agriculture report was pegged at 44 bushels per acre, up from 42.9 in July.

The prices:

Corn: Sep 8.00 1/2 off 6, Dec 8.00 1/2 off 4 3/4, Mar 7.99 off 2 1/4, May 7.91 3/4 off 1/4.

Soybeans: Aug 18.82 1/4 off 38 3/4, Sep 16.38 3/4 off 18, Nov 16.29 off 12, Jan 16.20 3/4 off 11 1/2.

Wheat: Sep 8.79 1/2 off 8 3/4, Dec 8.93 3/4 off 8 3/4, Mar 8.98 3/4 off 5 1/2, May 8.80 3/4 off 15 1/4.

Oats: Sep 3.71 off 9 1/4, Dec 3.72 off 10 3/4, Mar 3.72 1/2 off 15 1/4, May 3.74 1/4 off 15 1/4.

Copyright 2012 by United Press International