Grains opened lower on the Chicago Board of Trade Thursday, but corn and wheat rallied, while soybeans traded lower at the close.

Corn was up 2 to up 3; soybeans were off 13 3/4 to off 29 1/2; wheat was up 4 1/2 to up 7 3/4; oats were off 13 1/2.

Corn rallied on expectations of dry weather, which should bring planting season close to completion. Wheat rallied desspite of news the Baltic Exchange index for ocean shipping rose to an all-time high. Soybeans broke sharply Thursday in sympathy for weak oil trading.

The prices:

Corn: Jul 5.99, up 2 3/4; Sep 6.11 1/4, up 3; Dec 6.22 1/2, up 2; Mar 6.34 3/4, up 2.

Soybeans: Jul 13.47 1/2, off 32; Aug 13.47, off 29 1/2; Sep 13.28, off 21; Nov 13.19 1/4, off 13 3/4.

Wheat: Jul 7.71 1/2, up 7 1/2; Sep 7.86, up 7 3/4; Dec 8.06, up 6 3/4; Mar 8.23, up 4 1/2.

Oats: Jul 3.94, off 13 1/2; Sep 4.05, off 13 1/2; Dec 4.20, off 13 1/2; Mar 4.33, off 13 1/2.

Copyright 2008 by United Press International


Publication date: 16 May 2008   

Source: UPI-1-20080515-17454800-bc-us-cbot.xml

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