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01/26/2011 04:24 P (EST)
CHICAGO, Jan. 26 (UPI) -- Grain prices rebounded on the Chicago Board of Trade Wednesday with help from a weaker dollar and a huge soybean order from China.
Corn was up 12 to up 13 3/4, soybeans were up 10 to up 11, wheat was up 18 1/4 to up 20 1/2 and oats were up 5 1/2 to up 7.
Corn futures found support from contract highs for hogs and a recent increase in ethanol production. Strong demand in Europe for wheat, including Algerian purchase of 800,000 metric tons, and a drop in the dollar index, off 0.24 percent, pushed wheat prices Wednesday. The U.S. Department of Agriculture announced a sale of 2.74 million metric tons to China, thought to be the largest one-day sale on record.
The prices:
Corn: Mar 6.57 3/4 up 13 3/4, May 6.68 up 13 3/4, Jly 6.72 3/4 up 13 3/4, Sep 6.24 3/4 up 12.
Soybeans: Mar 13.85 1/2 up 11, May 13.96 1/2 up 11, Jly 14.03 up 10 3/4, Aug 13.81 up 10.
Wheat: Mar 8.56 1/2 up 18 1/4, May 8.84 1/4 up 18 3/4, Jly 9.01 1/4 up 18 3/4, Sep 9.17 up 20 1/2.
Oats: Mar 3.88 up 7, May 3.96 up 7, Jly 3.99 1/2 up 7, Sep 3.73 up 5 1/2.
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