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Grains higher on possible EU debt deal

Jeff Caldwell 11/28/2011 @ 11:45am Multimedia Editor for Agriculture.com and Successful Farming magazine.

Crude oil and the equities are higher and the U.S. Dollar index is lower, a combination that's keeping the grain trade higher at mid-day, though the trade's given back some of the sharper early gains.

At mid-day, December corn's 7 3/4 cents higher at $5.90 1/4 per bushel while December wheat is 1 1/4 cents higher at $5.75 3/4, according to Barchart.com. January soybeans were 14 1/4 cents higher at $11.20 3/4 per bushel.

"We have had some decent sale figures from the weekend. Equities have been down seven days in a row and I think that the market was thirsty for ANYTHING not negative," says market analyst and ICAP Energy LLC Derivatives Manager Scott Shellady. "The world is soaring on hope this morning."

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