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Grain futures mixed on stockpile estimates

Wed, 02/10/2010 - 08:06 by harsheeb

Chicago -- Grain futures closed mixed on the Chicago Board of Trade Tuesday as equity markets staged a rebound on Wall Street and the dollar index dropped 0.66 percent.

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

Corn futures closed higher as the U.S. Department of Agriculture said stockpiles were down 45 million bushels from a month ago at 1.7 billion bushels. In the latest report, the wheat stockpile estimate rose to 981 million bushels, from 976 million. Soybean stockpiles were estimated at 210 million bushels, a sharp drop from last month's 245 million bushel estimate.

The prices:
Corn: Mar 3.58 1/2, up 2 1/2; May 3.70 1/4, up 2 3/4; Jul 3.80 3/4, up 3 1/4; Sep 3.87 1/4, up 2 3/4.

Soybeans: Mar 9.24 1/2, off 5; May 9.35 1/4, off 4 3/4; Jul 9.44, off 4; Aug 9.41 1/2, off 2 1/2.

Wheat: Mar 4.82 1/4, off 1 3/4; May 4.97 1/4, off 1 3/4; Jul 5.10, off 1 1/2; Sep 5.26 1/4, off 1 1/4.

Oats: Mar 2.30, off 1; May 2.38 1/2, off 1 1/2; Jul 2.47 1/4, off 3/4; Sep 2.55 1/4, off 3/4.

Copyright 2010 United Press International

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