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Soybeans finish higher, corn lower

Updated: 03/17/2014 @ 1:55pm

On Monday, the CME Group soybean market traded both sides of zero, before closing higher. Corn and wheat ended lower. 

The May corn futures contract closed 7 cents lower at $4.79. The May soybean futures contract closed 3 1/4 cents higher at $13.91.  May wheat futures finished 12 3/4 cents lower at $6.74 per bushel. The May soymeal futures contract closed $2.60 per short ton higher at $446.60. The May soyoil futures ended $0.40 lower at $41.89.

In the outside markets, the NYMEX crude oil is $0.95 per barrel lower, the dollar is lower and the Dow Jones Industrials are 178 points higher.

Helen Pound, KCG Futures grain analyst, says the market is dealing with international news. "The main focus of the market continues to be the tense political/military situation in the Ukraine/Crimea/Russia region, as well as possible cancellation of Chinese purchases of US/S Am beans," Pound writes in a daily newsletter to customers.

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