Corn, Wheat, Soybean and Oats Future Prices Mixed of Trade First March 2011

Grains include corn , wheat, soybean and oats closed mixed on the Chicago Board of Trade Tuesday with the dollar index rising 0.17 percent.

Corn was up 4 1/4 to up 5, soybeans were up 9 1/2 to up 11, wheat was off 6 3/4 to off 9 and oats were up 5 to up 8 3/4. Corn rose modestly higher, partly in tandem with oil prices, which soared in New York on continued tensions in the Middle East.

Wheat prices fell on improved crop conditions in China. Soybean prices rose as rain in Brazil is reportedly impeding harvest progress.

Corn price: Mar 7.27 1/4 up 4 3/4, May 7.35 1/2 up 4 1/2, Jly 7.38 1/4 up 5, Sep 6.54 3/4 up 4 1/2.

Soybeans price: Mar 13.67 1/2 up 10 1/4, May 13.75 1/4 up 10 1/2, Jly 13.82 up 9 1/2, Aug 13.70 up 11.

Wheat price: Mar 7.75 3/4 off 6 3/4, May 8.10 1/4 off 6 3/4, Jly 8.40 3/4 off 7 1/2, Sep 8.70 1/4 off 9.

Oats price: Mar 3.80 up 8 3/4, May 3.89 1/2 up 8 1/2, Jly 3.97 up 8 1/2, Sep 3.91 up 5.

Global grain prices have fallen by almost 15% over the past seven days, highlighting, once again the tremendous volatility of the international markets which local farmers and food processors now have to cope with.

Grains and oilseed prices are likely to find support from consumers who have shown an increase in buying activity amidst this pullback in prices. We expect volatility will continue to increase in coming months as prices consolidate near current levels before continuing their rise into the Northern hemisphere?s spring planting season.

Global consumers have taken advantage of the lower prices with Saudi Arabia, Egypt and Tunisia tendering for wheat over the last few days but the local agricultural consumer has taken fright and gone into hiding, frightened to buy in case this is a sign of the bullish market turning with the dramatic effect seen in 2008.

Grains futures traded mixed on the Chicago Board of Trade.

Wheat for May delivery fell 6.75 cents to $8.1025 a bushel

May corn added 4.50 cents to $7.3550 a bushel

May oats were up 8.50 cents to $3.8950 a bushel

while soybeans for May delivery gained 10.50 cents to $13.7525 a bushel.

Beef and pork traded lower or flat on the Chicago Mercantile Exchange.

April live cattle fell 1.50 cent to $1.1140 a pound

March feeder cattle dropped 1.17 cent to $1.2890 a pound

April lean hogs fell 70 cent to 88.10 cents a pound

while March pork bellies were unchanged at $1.1650 a pound.