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Monday, September 17, 2012

Corn, soybeans, wheat prices september 17 2012

Corn, soybeans, wheat prices september 17 2012 : Chicago soybeans fell for a second consecutive session today and corn slid more than 1 percent, pressured by a rapidly advancing US harvest which is bringing fresh supplies to the market.

Wheat gave up 1 percent to fall from Friday's five-week top as favourable weather for the US winter crop planting and supplies from India weighed on the market.

Chicago Board of Trade December wheat fell 1.19 percent to $9.13-1/4 a bushel and new-crop December corn lost 1.37 percent to $7.71-1/2 a bushel. November soy slid 1.54 percent to $17.12-1/2 a bushel.

The grain markets got a boost last week following the Federal Reserve's latest stimulus plan. But the progress of the corn and soybean harvest in the U.S. Midwest prompted investors to sell.

In addition, rainfall in the US, which has improved the conditions for

planting and forecast rain in Australia, could have a positive impact on yields, weighing on prices today, Germany's Commerzbank said in a daily note.

Traders are expecting the corn harvest to be 20-25 percent complete as of Sunday. The soybean harvest, which was 4 percent complete last week, is picking up speed and could be 10 percent finished.

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