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In early trading, the CME Group markets trade mixed

Agriculture.com Staff 07/08/2010 @ 11:00pm

CHICAGO, Illinois (Agriculture.com)--At the open, the CME Group markets react negatively to the USDA Supply/Demand report Friday.

On Friday, USDA raised the U.S. wheat production vs. its June report. Also, U.S. corn, soybeans and wheat carryout levels were raised, seen as bearish for the markets.

In early trading, the Dec corn futures are 1 1/4 cents lower at $3.95. The Nov. soybean contract is trading 1 cent higher at $9.47. The Sep. wheat futures are 15 1/2 cents lower at $5.33 3/4. Dec. soybean meal futures are $0.80 higher at $276.40 per short ton. Dec. soyoil futures are trading 21 points higher at 37.90.

In the outside markets, the NYMEX crude oil is $0.40 higher per barrel, the dollar is higher, and the Dow Jones Industrials are 25 points.

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Soybeans Rally on Demand, Weather