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Soybeans close up, corn down

02/10/2012 @ 9:37am

DES MOINES, Iowa (Agriculture.com)--The CME Group corn, soybean and wheat markets closed mixed, under pressure from outside markets and low volume Friday

The March corn futures settled 5 1/4 cents lower at $6.31 3/4. The March soybean contract closed 1 1/2 cents higher at $12.29. The March wheat futures are trading 7 1/2 cents lower at $6.38 1/2.  The March soymeal futures ende $0.10 per short ton lower at $320.00. The March soyoil futures settled $0.10 lower at $52.53.
In the outside markets, the NYMEX crude oil is $0.99 per barrel lower, the dollar is higher and the Dow Jones Industrials are down 128 points.

Luisa Longo, a CME Group independent floor trader, says outside markets brought the grains down Friday.

"The grains are lower today due to macroeconomic factors.  Greek debt negotiations have stalled, rallying the dollar. Also, this conversely sent equities, energy, metals, and grains all lower.

Jack Scoville, PRICE Futures Group vice president, says the trade was slow. "I think the market held pretty well, given the dollar strength.  Some demand news about Egypt and China helping things.  Been pretty slow here," Scoville says. 


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