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> From: Mercury Mail <cbell@xxxxxxxx>
> To: abprosys@xxxxxxx
> Subject: Closing Bell Grains Report @ 07/16/97
> Date: Wednesday, July 16, 1997 4:29 PM
>
> Closing Bell Grains Report for Wednesday, Jul 16, 1997
>
> In alliance with Money Online at http://www.money.com
>
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>
> Corn and soybean futures prices fell sharply Wednesday on the
> Chicago Board of Trade after forecasters predicted rain will fall
> in Midwest growing areas, relieving crops during a critical growing
> period. Wheat futures prices also retreated.
>
> Temperatures this week have soared into the 90's, increasing the
> likelihood of yield losses for a corn crop the U.S. Agriculture
> Department predicts will total 9.7 billion bushels this fall.
>
> But new forecasts call for widespread and heavy rain to reach 70%
> of Midwestern crops from Sunday through Tuesday, which would
> provide much-needed moisture just as the majority of the crop
> enters the pollination period. Last week, forecasts for heavy rain
> proved incorrect, and investors said daily updates will determine
> the market's direction.
>
> Soybeans also fell on the weather forecasts, while wheat futures
> fell on the losses in other markets and on pressure from the winter
> wheat harvest, which is wrapping up amid a lack of export demand.
> (WSJ Interactive)
>
> ------------------------CORN----------------------------------
> CBOT - 5,000 bu minimum _ cents per bushel.
> CONTRACT
> CONTRACT OPEN HIGH LOW CLOSE CHANGE HIGH LOW
> Jul97 268 1/2 269 264 3/4 266 1/2 _4 1/4 393 240
> Sep97 251 252 3/4 249 250 _6 335 227 1/2
> Dec97 252 254 249 1/2 250 3/4 _5 3/4 309 1/2 227 1/2
> Mar98 258 261 3/4 258 258 3/4 _6 1/4 301 1/2 236
> May98 265 266 1/2 264 264 _6 1/2 303 241 3/4
> Jul98 269 269 1/2 266 1/2 266 3/4 _6 3/4 315 1/2 245
> Sep98 258 1/2 258 1/2 256 1/2 257 _3 261 244
> Dec98 261 1/2 265 261 1/2 262 1/2 _4 1/4 293 247
> Est Sales 85000
>
> -------------------------OATS---------------------------------
> CBOT - 5,000 bu minimum _ cents per bushel.
> CONTRACT
> CONTRACT OPEN HIGH LOW CLOSE CHANGE HIGH LOW
> Jul97 175 175 172 172 3/4 _2 1/4 233 1/2 148 1/4
> Sep97 154 1/2 155 3/4 152 152 1/4 _4 3/4 185 144
> Dec97 153 153 149 1/2 149 3/4 _4 1/4 182 143
> Mar98 157 157 153 153 _4 1/2 174 1/2 148 1/4
> Est Sales 1000
>
> ------------------------SOYBEANS------------------------------
> CBOT - 5,000 bu minimum _ cents per bushel.
> CONTRACT
> CONTRACT OPEN HIGH LOW CLOSE CHANGE HIGH LOW
> Jul97 803 803 777 782 _29 902 611
> Aug97 768 768 745 1/2 745 1/2 _30 869 1/2 663
> Sep97 671 671 652 653 _24 1/2 800 1/2 605
> Nov97 619 619 606 609 _16 3/4 750 577
> Jan98 619 620 611 612 1/2 _16 1/4 752 583
> Mar98 628 628 619 619 _17 1/2 749 593
> May98 631 634 626 626 _16 3/4 745 601
> Jul98 639 640 633 633 _15 1/4 749 611 1/2
> Nov98 625 625 620 1/2 620 3/4 _7 1/4 702 597
> Est Sales 50000
>
> --------------------------WHEAT------------------------------
> CBOT - 5,000 bu minimum _ cents per bushel.
> CONTRACT
> CONTRACT OPEN HIGH LOW CLOSE CHANGE HIGH LOW
> Jul97 330 330 325 325 _7 465 313
> Sep97 337 337 331 331 1/2 _6 3/4 463 321 1/2
> Dec97 352 352 346 1/2 347 _5 3/4 473 1/2 335
> Mar98 359 1/2 359 1/2 355 355 1/2 _6 470 343 3/4
> May98 359 1/2 361 355 355 _5 439 1/2 345 1/2
> Jul98 361 361 356 356 _3 425 333
> Est Sales 17000
>
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