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Farm markets stay lower

Updated: 07/21/2011 @ 11:31am

CHICAGO, Illinois (Agriculture.com)--At mid-session, the easing weather outlook and profit-taking have the CME Group futures markets lower Thursday.

The Dec. corn futures are trading 7 3/4 cents lower at $6.70. The Nov. soybean contract is trading unchanged at $13.84. The Sep. wheat futures are trading 14 3/4 cents lower at $6.82 1/4. The Dec. soybean meal futures contract is trading $1.00 per short ton lower at $366.50 and Dec. soyoil futures are trading $0.09 lower at $57.61.

In the outside markets, the NYMEX crude oil is $1.58 per barrel higher, the dollar is lower and the Dow Jones Industrials are up 112 points.

The Wednesday afternoon European model has backed off the idea of a  second 'heat dome', according to Wxrisk.com, the website.   So, the period of July 28-29-30-31 is looking less threatening for the Midwest crops.

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