011123 Wheat Futures Fall; Soybeans RiseNovember 12, 2001
CHICAGO - Wheat futures fell as soybeans rose on the Chicago Board of Trade, with pressure coming in part from uncertainty over the plane crash in New York City. The crash of an American Airlines plane in New York and subsequent developments affected commodities trading. Wheat prices were pressured by the uncertainty as well as forecasts for rain in U.S. growing regions later this week and a lack of export news over the weekend. Corn prices closed unchanged after regaining an initial slide that followed stock prices after the crash. Soybeans opened lower before turning on hopes of continued U.S. soybean sales to China after China's admittance to the WTO over the weekend. Soybean prices closed higher, with gains in soyoil providing support. December wheat dropped 3 cents to $2.83 per bushel; December corn was unchanged at $2.06 per bushel; December oats rose 2 1/4 cents to $2.06 1/2; November soybeans rose 3 1/4 cents to $4.45 per bushel. Beef and pork futures were lower on the Chicago Mercantile Exchange Monday. December live cattle fell 1.50 cents to 61.75 cents a pound; November feeder cattle dropped .72 cents to 83.90 a pound; December lean hogs fell 1.45 cent to 47.87 cents a pound; February pork bellies fell .23 cent to 70.17 cents a pound.
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