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Corn, soybean prices remain lower

Updated: 02/06/2013 @ 12:35pm

DES MOINES, Iowa (Agriculture.com)--A more favorable outlook for rain in South America continues to pressure the CME Group corn, soybean prices Wednesday.

At mid-day, the March futures corn contract is trading 5 cents lower at $7.25. The March soybean futures contract is trading 8 cents lower at $14.87. March wheat futures are trading 4 cents higher at $7.61 per bushel. The March soyoil futures contract is trading $0.35 lower at $52.63. The March soymeal futures are trading $2.70 per short ton lower at $435.80. 

In the outside markets, the NYMEX crude oil is $0.08 per barrel higher, the dollar is higher and the Dow Jones Industrials are 5 points higher.

A wetter forecast for the Argentine and Brazilian soybean producing regions is pressuring the markets Wednesday.

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02/06/2013 @ 2:39pm What a miracle the forecast went from dry to favorable in a day gee I wonder who rigged that up?

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