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Grains finish down Tuesday

Tuesday, 26-Aug-2008 5:24PM PDT
    
Story from United Press International
Copyright 2008 by United Press International (via ClariNet)

CHICAGO, Aug. 26 (UPI) -- Major grain markets all slipped slightly lower on the Chicago Board of Trade Tuesday.

The dollar's sharp move upward pressured markets throughout the day, floor traders said. The corn crop also was pressured by weather forecasts calling for a dry period and reports of an unexpectedly large supply of feed wheat from Ukraine.

The weakness in wheat also was attributed to lower crude along with improved crop weather for wheat in Australia and Argentina.

Lack of rain was expected to hold down soybean yields.

Corn for December delivery closed down at 5.94 with weather a factor in the corn belt, as well.

Soybeans were down 2 1/2 at 13.44 1/2 in November futures. Wheat futures were off 10 1/2 at 8.54 and oats were down 9 at 3.73.

The prices:

Corn: Sep 5.78 1/2, off 5; Dec 5.94, off 6, Mar 6.13 1/2, off 6; May 6.26, off 6.

Soybeans: Sep 13.379 1/2, off 1 3/4; Nov 13.44 1/2, off 2 1/2; Jan 13.62, off 2 1/2, Mar 13.75 3/4, off 1 1/2.

Wheat: Sep 8.30 1/2, off 9 3/4; Dec 8.54 1/2, off 10 1/2, Mar 8.78 1/4, off 10 3/4; May 8.93 1/4, off 10 3/4.

Oats: Sep 3.55, off 9; Dec 3.73, off 9; Mar 4, 391 off 9; May 4.02, off 9.