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Farm markets finish stronger

Updated: 10/10/2011 @ 3:10pm

DES MOINES, Iowa (Agriculture.com)--Improved world economic news and a weakening dollar helped the CME Group farm markets settle higher Monday.

The Dec. corn futures settled 5 cents higher at $6.05. The Nov. soybean contract closed 19 1/4 cents higher at $11.77 1/2. The Dec. wheat futures closed 4 cents higher at $6.11 1/2. The Dec. soymeal futures settled $4.20 higher per short ton and soyoil futures closed $0.79 higher at $50.11.

In the outside markets, the NYMEX crude oil is $2.44 per barrel higher, the dollar is lower and the Dow Jones Industrials are up 283 points.

Broad-based commodity buying and a weakening dollar helped the U.S. farm markets push higher Monday, analysts say.

In addition, the German and French pledge to help bailout the Eurozone is underpinning this grain market.


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