CHICAGO (AP) — Agriculture futures continued to decline Friday on the Chicago Board of Trade following a Tuesday report from the Department of Agriculture predicint record 2009 crop harvests.
Production estimates were revised higher from a government report in November. Prices have dropped steadily since Tuesday’s release.
Wheat for March delivery dropped 8.25 cents to $5.195 a bushel; March corn shed 6 cents to $3.75 a bushel; March oats dipped 0.5 cent to $2.455 a bushel; and March soybeans fell 5.5 cents to $9.785 a bushel.
Meanwhile, beef and pork futures rose on the Chicago Mercantile Exchange.
February live cattle added 0.40 cent to 87.05 cents a pound; March feeder cattle rose 0.50 cent to 98.45 cents a pound; February lean hogs gained 0.40 cent to 69.45 cents a pound; and February pork bellies climbed 0.85 cent to 90.40 cents a pound.