Saturday, January 29, 2011
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CBOT Updates: Corn falls on profit booking
MUMBAI (Commodity Online): US corn futures close lower on profit-taking and spillover selling from steep losses in wheat.
Traders took money off the table ahead of the weekend and the end of the month. Futures prices had room to pull back after reaching 30-month highs recently, analysts say.
A 2.4% slide in wheat added pressure because both grains are used for livestock feed. CBOT March corn finish down 1% to $6.44 a bushel.
Courtesy: CME Group
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