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Grains rise on bullish outside news

Jeff Caldwell 11/29/2011 @ 10:15am Multimedia Editor for Agriculture.com and Successful Farming magazine.

There's not much fundamental news to trade on for corn and soybeans Tuesday morning, and the resulting focus on outside factors has the grains trading in the black.

In early trading, December corn is 3/4 of a cent higher at $5.92 1/2 per bushel, January soybeans are 4 1/4 higher at $11.25 1/4 and December wheat is 3 1/4 higher at $5.78, according to Barchart.com.

The slightly higher start is derived mostly from traders' confidence in looking at positive outside factors, namely a debt resolution deal for Italy, traders say. That bullish sentiment is broad-based, with the crude oil and equities markets starting higher. The Dow Jones Industrial Average is almost 50 points higher and nearby NYMEX crude oil is just over $1 higher, nearing $100/barrel.

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