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Wheat worries push grains higher

Jeff Caldwell 12/03/2012 @ 9:45am Multimedia Editor for Agriculture.com and Successful Farming magazine.

Crop weather problems around the world -- especially as they pertain to a struggling wheat crop in some key growing regions -- are helping drive CME Group grain futures to big gains early in Monday's trading session.

As of 9:26 AM CST, the March corn futures contract was trading 9 cents higher at $7.61 3/4 per bushel while January soybeans were at $14.57 1/2, 18 3/4 cents higher. March wheat was 10 3/4 cents higher at $8.74 1/4.

Start-of-month technical buying and renewed export demand in the wheat trade, as well as growing anxiety about crop weather from South America to eastern Europe are largely behind the upward move in the grains that began in the overnight session and is spilling over into Monday's open outcry session.


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