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Jobs data sinks grains in early trading

Jeff Caldwell 05/04/2012 @ 10:13am Multimedia Editor for Agriculture.com and Successful Farming magazine.

A disappointing U.S. jobs report released Friday morning sent the grain market on a downward slide in early trading as investors sold off to reduce risk exposure.

In early trading, nearby corn futures traded 5 3/4 lower to $6.08 3/4 per bushel, while nearby soybeans were 9 cents lower at $14.64 1/2 and nearby wheat was 8 1/4 lower at $6.07 1/4, according to Barchart.com.

Friday's disappointing jobs numbers fueled the downturn in the grains and anchored overall bearish pressure from the macroeconomy on the grains sector.

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