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Grain futures lower Thursday

Fri, 01/15/2010 - 09:46 by Rakhi Kaptiyal

Chicago -- Grain futures closed lower on the Chicago Board of Trade Thursday despite modest gains made in U.S. equities for the second consecutive trading session.

Corn was off 3 to off 3 3/4, soybeans were off 8 1/2 to off 15, wheat was off 9 1/4 to off 10 and oats were off 4 1/2 to off 4 3/4.

Corn futures closed lower as export sales for the week were lower than expected. Wheat exports for the week were also light -- 181,900 metric tons -- prompting sales. Soybean, in contrast, posted higher-than-expected sales on the week at 754,100 metric tons.

The prices:

Corn: Mar 3.81, off 3; May 3.91 3/4, off 3 1/4; Jul 4.01, off 3 1/4; Sep 4.08 1/4, off 3 3/4.

Soybeans: Jan 9.68 1/2, off 15; Mar 9.84, off 8 1/2; May 9.90 3/4, off 9; Jul 9.96, off 10.

Wheat: Mar 5.27 3/4, off 9 1/4; May 5.40 3/4, off 9 1/4; Jul 5.51 1/2, off 9 1/2; Sep 5.65 3/4, off 10.

Oats: Mar 2.46, off 4 1/2; May 2.54 1/2, off 4 1/2; Jul 2.62 3/4 off 4 3/4; Sep 2.71 1/2, off 4 3/4.

Copyright 2010 by United Press International.

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