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Grains Retreat After Rally, Cattle & Hogs Rise

September 20, 2013 at 1:04 by Vladimir Vyun

Grains retreated today after the previous rally. They may rebound still as demand for US exports remains high. Additionally, the policy announcement from the US Federal Reserve continues to help the commodity market as traders felt secure enough to buy risky assets. December futures for corn ticked down $0.0275 (0.6 percent) to $4.5675 per bushel as of 00:54 GMT on CBoT today. Contract for wheat lost $0.025 (0.38 percent) to $6.5475 per bushel. November soybeans retreated $0.0575 (0.43 percent) to $13.3375 per bushel.

Cattle rose a little today on speculations that US supply will decrease. At the same time, hogs also edged higher after the earlier decline. December futures for cattle went up $0.001 (0.08 percent) to $1.2983 per pound on CME today. Futures for delivery of hogs added $0.0003 (0.03 percent) to $0.8733 per pound.

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