Soybean futures soar on production report

Corn was off 7 to off 9, soybeans were up 52 1/4 to up 54 3/4, wheat was off 13 1/4 to off 15 and oats were off 3 to off 3 1/2.

The November Crop Production report was largely unchanged for corn, which dropped on the Chicago Board of Trade as the dollar index rose 0.99 percent. Wheat prices fell although total wheat production was revised lower from 2.224 billion bushels to 2.208 billion. Soybean prices found the most support as the yield was cut from 44.4 bushels per acre in October's report to 43.9 bushels per acre.

The prices:

Corn: Dec. 5.76 1/4, off 9; Mar 5.90 1/4, off 9; May 5.97 3/4, off 8 1/4; Jul 6.02 1/4, off 7.

Soybeans: Nov 13.19 1/4, up 54 3/4; Jan 13.29, up 54 1/4; Mar 13.38, up 54 3/4; May 13.38 3/4, up 52 1/4.

Wheat: Dec 7.21 3/4, off 14 1/2; Mar 7.61 1/4, off 15; May 7.88, off 13 1/4; Jul 7.97 1/4, off 13 1/4.

Oats: Dec 3.73, off 3 1/2; Mar 3.85 1/2, off 3 1/2; May 3.91, off 3 1/2; Jul 3.94, off 3.

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