Bargain-buying boosts soybeans, wheat
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.
- See how Wednesday's trade unfolded in Marketing Talk
- Check out the view from the Options pit
- Also: Closing corn & beans -- corn poised to rise?
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.
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(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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