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Corn, soybeans close out week higher

Updated: 12/28/2012 @ 2:30pm

DES MOINES, Iowa (Agriculture.com)--Export sales helped wheat and soybeans close higher, corn followed Friday.

The March futures corn contract closed 2 cents higher at $6.94. The Jan. soybean futures contract finished 5 cents higher at $14.24. March wheat futures finished 6 cents higher at $7.78 per bushel. The Jan. soyoil futures contract finished $0.65 at $48.94.  The Jan. soymeal futures contract closed $2.10 per short ton lower at $427.70.

In the outside markets, the NYMEX crude oil is $0.01 per barrel lower, the dollar is higher and the Dow Jones Industrials are 88 points lower.

Jack Scoville, PRICE Futures Group vice president, says the market digested the weekly export sales today.

"Great week of export sales is supporting wheat. And the sales announced today are supporting soybeans and soybean oil.  But it is dead quiet here, no one doing much either way," he says.

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