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Bargain-buying boosts soybeans, wheat

02/13/2013 @ 3:00pm

U.S. grain and soybean futures closed mixed Wednesday, with bargain-hunting buying providing some underlying price support. Futures finished off earlier lows amid views among traders that recent declines were overdone.

Wheat and soybean futures stabilized after dipping to multi-week lows, with technical-based buying driving prices to modest gains. Soybeans drew added support from lingering worries about tight U.S. supplies.

Corn futures ended lower, unable to sustain midday gains as the market still lacks a strong fundamental feature to boost prices.

With futures yet to settle, Chicago Board of Trade March corn is down 1 1/2 cents at $6.94 3/4 a bushel, March soybeans are up 3 cents at $14.23 3/4, and March wheat is up 3 cents at $7.35.

Write to Andrew Johnson Jr. at andrew.johnsonjr@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
February 13, 2013 15:33 ET (20:33 GMT)
DJ U.S. Grain, Soy Futures Close Mixed; Bargain Buying A Support->copyright

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