Grains lose gains in early trading

Corn, winter wheat, and soybean futures suffered losses early Monday, as investors and farmers reacted to a slightly improved weather forecast for the Midwest.

Corn for September delivery (CU12) was the most active corn contract, losing 3%, or 25 cents, to $7.99 per bushel. However, it was still up 27% on the month, and 30% on the year.

September hard red winter wheat was down 3.5%, or 3 cents, to $9.07 per bushel. It was closely followed by December wheat contracts, which had lost 3.2%, or 30 cents, to $9.23 per bushel.

Soybeans for December delivery were the most active soybean contract, losing 3.07%, or $15.50, to $488.90 per ton, still up 55% for the year.

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- Posted: 2012-07-23 12:21:56

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