Grain futures rise on Chicago Board of Trade ahead of USDA reports
Soybeans climbed about 2 percent as funds bought heavily in anticipation of today’s USDA crop production and supply and demand reports. Wheat edged higher after a day of mixed trading. December wheat up to $3.83 1/2, December corn steady at $2.35 3/4, December oats down to $1.92 1/4, January soybeans up to $5.68 1/4.
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Stockyards Springfield market report shows mixed hog prices
Eastern Cornbelt carcass prices closed weak to 0.50 lower across 0.5 to 0.9 inch bf ranges from 36.36 to 46.50. Today's Illinois Direct Hogs purchases total 16,391 with steady to weak tone as demand remains light for light to moderate offerings. 1 3 300 400 Ibs 16.00 17.00 400 500 Ibs 17.00 19.00 500 600 Ibs 19.00 21.00 few over 600 Ibs 20.00 23.00 Boars under 300 Ibs 10.00 18.00 mostly 14.00 15.00 over 300 Ibs 4.00 7.00.
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Markets slide as war fears grip Wall Street
Escalating Iraq war fears dominate trading with the Dow dropping 178.18 to 8358.95 and the Nasdaq down 40.09 to 1319.19. Analysts cite profit taking after a rally and uncertainty over troop deployment while Bush officials discuss Pentagon plans for up to 250000 troops if U.N. inspections fail.
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May Department Stores Reports Sharp Q3 Earnings Drop
May Department Stores Co. posted a 69 percent fall in third quarter earnings to 5 cents per share on $3.05 billion in revenue, with results hurt by sluggish sales and one time costs. Excluding those costs, earnings were 7 cents per share, below Thomson First Call estimates. Nine month results showed a 43 percent profit decline from the prior year.
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