Grain futures close lower Friday

November 7, 2009 - 0 comments

Chicago -- Grain futures closed lower on the Chicago Board of Trade Friday as stocks were flat in New York on news the U.S. unemployment rate reached 10.2 percent.

Corn was off 9 to off 9 1/2, soybeans were off 14 3/4 to off 19, wheat was off 14 1/2 to off 15 and oats were off 1 1/4 to off 1 3/4.

Corn futures dropped with farmers in selling mode to make room for the 2009 harvest. Wheat prices fell despite an interruption in harvest activity because of snow in parts of Saskatchewan, Canada. China purchased 356,000 metric tons of soybeans Friday, three times the amount expected.

The prices:

Corn: Dec 3.67, off 9 1/2; Mar 3.81, off 9 1/4; May 3.91, off 9; Jul 3.99 1/2, off 9.

Soybeans: Nov 9.48, off 19; Jan 9.55, off 17; Mar 9.60 1/4, off 16 1/2; May 9.61 1/4, off 14 3/4.

Wheat: Dec 4.97 1/4, off 15; Mar 5.17 1/4, off 15; May 5.30 1/2, off 14 3/4; Jul 5.41 3/4, off 14 1/2.

Oats: Dec 2.54, off 1 3/4; Mar 2.67 1/2, off 1 3/4; May 2.76, off 1 1/4; Jul 2.84, off 1 1/4.