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Grain markets close mostly lower

09/30/2010 @ 12:13pm

CHICAGO, Illinois (Agriculture.com)--After suffering steep early losses, the CME Group grain markets closed mixed Thursday.

The Dec corn futures settled 9 1/4 cents lower at $4.95 3/4. The Nov. soybean contract finished 7 3/4 cents higher at $11.06 3/4. The Dec. wheat futures settled 9 1/2 cents lower at $6.74.  The Dec. soyoil futures closed 65 points higher at $45.09. The Dec. soymeal futures contract ended $0.60 lower at $306.90 per short ton.

In the outside markets, the NYMEX crude oil is $2.20 per barrel higher, the dollar is higher, and the Dow Jones Industrials are down 12 points.

In its Grain Stocks Report Thursday, the USDA raised the 2010 U.S. corn grain stocks by 300 million bushels vs. its June report, sharply higher than trade estimates. As a result, the grain markets trade sharply lower.


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