Business News - Grains lower on Chicago Board of Trade

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Grains lower on Chicago Board of Trade

CHICAGO (UPI) -- Midwest grains remained under pressure through much of the day at the Chicago Board of Trade Thursday as most finished in the red.

Traders blamed a negative price influence on overnight Midwestern rain in several states. Fund selling also was seen as significant.

. In its Export Sales Report, the USDA said corn numbers were somewhat better than trade expectations with sales hitting 303,000 tons for the current marketing year that ends Sunday.

And, the U.S. Energy Information Agency, in its monthly ethanol report, showed minor slowing on the ethanol market.

The prices:

Corn: Sept. 5.70, off 7 ½, Dec5.87 ¾ off 81/4, Mar 6.06 ¾, off 8 ¼, May 6.19 ¼ off 8 1/2,

Soybeans: Sept 13.32 ½, off 15 ½, Nov 13.24,, off 24. Jan 13.41 ¼, off 23 ¾, Mar 13.53 ¾, off 23.1/4..

Wheat: Sep 7.89, off 13.3/4, Dec 8.11, off 14 ¾, Mar 8.34 off 14 ½, May 8.49, off 14 ¾.

Oats: Sep 3.6 off 8 ½, Dec 3.7 off 8, Mar 3.9 off 8, May 4, off 8.

Copyright 2008 by United Press International

This news arrived on: 08/28/2008

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