Grains mixed Tuesday

Grain futures were mixed on the Chicago Board of Trade Tuesday after the U.S. Agriculture Department raised its supply estimates on corn and soybeans. Corn was up 1 1/4 to up 5 1/2, soybeans were off 3 to up 16, wheat was off 4 1/2 to off 6 3/4 and oats were up 4 1/2 to up 7 1/4. The USDA revised its corn yield estimate up 0.2 percent. The estimate for soybeans of 2.97 billion bushels also beat expectations, although soybeans were split after a slow start. Wheat prices dropped modestly with support from several buyers, including Bahrain, Japan, Taiwan and Algeria, all in the market Tuesday. Jordan, Iraq and Syria are also tendering for wheat. Today's prices: Corn: Dec 7.23 1/2 up 5 1/2, Mar 7.26 1/4 up 4, May 7.22 1/2 up 3, Jly 7.11 1/2 up 1 1/4. Soybeans: Nov 14.27 up 16, Jan 14.08 up 3, Mar 13.85 3/4 off 2 1/4, May 13.72 1/2 off 3. Wheat: Dec 8.51 off 6 3/4, Mar 8.65 3/4 off 6 3/4, May 8.72 1/2 off 6 3/4, Jly 8.56 off 4 1/2. Oats: 3.53 3/4 up 4 1/2, Mar 3.72 1/2 up 4 1/2, May 3.74 3/4 up 7 1/4, Jly 3.71 3/4 up 7 1/4.