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Corn prices soar on small harvest estimate
by The Associated Press
Oct 11, 2012 | 1817 views | 0 0 comments | 6 6 recommendations | email to a friend | print
Tom Giles of Linn, Kansas, delivers wheat to a grain elevator in Fremont, Neb.on Wednesday, Oct. 10, 2012. The U.S. Department of Agriculture has slightly lowered its projection for the size of this year's corn crop for a fourth straight month. The USDA released its monthly crop report Thursday, Oct. 11, in which it estimates that farmers will harvest 10.71 billion bushels of corn. That's down from last month's estimate of 10.73 billion bushels. (AP Photo/Nati Harnik)
Tom Giles of Linn, Kansas, delivers wheat to a grain elevator in Fremont, Neb.on Wednesday, Oct. 10, 2012. The U.S. Department of Agriculture has slightly lowered its projection for the size of this year's corn crop for a fourth straight month. The USDA released its monthly crop report Thursday, Oct. 11, in which it estimates that farmers will harvest 10.71 billion bushels of corn. That's down from last month's estimate of 10.73 billion bushels. (AP Photo/Nati Harnik)
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In this Monday, Sept. 10, 2012 photo, Dennis Greenwalt, of Farmersville, Ill., opens up the electronically operated gates to dump corn into The Scoular Company grain elevator in Waverly, Ill. Despite the drought conditions, the moisture content of the corn has been sufficient as it is a key component in weight, quality and price, according to elevator operators. Grain buyers from around the world are touring Illinois farms this week. The tour started Monday, with a visit to a corn and soybean farm in central Illinois, and is scheduled to end Friday with a visit to the Chicago Board of Trade. (AP Photo/The State Journal-Register, Justin L. Fowler)
In this Monday, Sept. 10, 2012 photo, Dennis Greenwalt, of Farmersville, Ill., opens up the electronically operated gates to dump corn into The Scoular Company grain elevator in Waverly, Ill. Despite the drought conditions, the moisture content of the corn has been sufficient as it is a key component in weight, quality and price, according to elevator operators. Grain buyers from around the world are touring Illinois farms this week. The tour started Monday, with a visit to a corn and soybean farm in central Illinois, and is scheduled to end Friday with a visit to the Chicago Board of Trade. (AP Photo/The State Journal-Register, Justin L. Fowler)
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John Widhelm of Valley, Neb., delivers corn from his field to a grain elevator in Fremont, Neb. on Wednesday, Oct. 10, 2012. The U.S. Department of Agriculture has slightly lowered its projection for the size of this year's corn crop for a fourth straight month. The USDA released its monthly crop report Thursday, Oct. 11, in which it estimates that farmers will harvest 10.71 billion bushels of corn. That's down from last month's estimate of 10.73 billion bushels. (AP Photo/Nati Harnik)
John Widhelm of Valley, Neb., delivers corn from his field to a grain elevator in Fremont, Neb. on Wednesday, Oct. 10, 2012. The U.S. Department of Agriculture has slightly lowered its projection for the size of this year's corn crop for a fourth straight month. The USDA released its monthly crop report Thursday, Oct. 11, in which it estimates that farmers will harvest 10.71 billion bushels of corn. That's down from last month's estimate of 10.73 billion bushels. (AP Photo/Nati Harnik)
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CHICAGO — Grains futures rose Thursday on the Chicago Board of Trade.

Wheat for December delivery rose 16.25 cents to $8.86 a bushel; December corn jumped 36.50 cents to $7.7325 a bushel; December oats rose 5 cents to $3.8850 a bushel; while November soybeans rose 25.25 cents to $15.4850 a bushel.

Beef futures rose and pork futures fell on the Chicago Mercantile Exchange.

December live cattle fell 0.65 cent to $1.2592 a pound; November feeder cattle fell 2.90 cents to $1.4380 a pound; while December lean hogs fell 0.60 cent to 77.50 cents a pound.
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