Corn pulls market sharply higher

Posted on Sep 29, 2012 in Business | 0 comments

Corn led grain futures sharply higher Friday on the Chicago Board of Trade.

Corn was up 26 3/4 to up 40, soybeans were up 30 1/4 to up 42 1/2, wheat was up 31 1/4 to up 47 and oats were up 1 3/4 to up 2 1/4.

Corn rallied on a bullish quarterly report that put corn stocks at 988 million bushels, below trade estimates of 1.11 billion bushels. The International Grains Council also cut its forecast for world corn production by 5.1 million tonnes..

Corn: Dec 7.56 1/4 up 40, Mar 7.59 1/2 up 40, May 7.56 1/2 up 39 1/2, Jly 7.49 up 38.

Soybeans: Nov 16.01 up 30 1/4, Jan 16.02 3/6 up 31 1/2, Mar 15.64 1/4 up 40 1/4, May 15.21 1/2 up 42 1/2.

Wheat: Dec. 9.02 1/2 up 47, Mar 9.12 1/4 up 44, May 9.06 1/4 up 36, Jly 8.67 up 31 1/4.

Oats: Dec 3.70 1/2 up 2 1/4, Mar 3.76 up 2 1/4, May 3.77 1/4 up 1 3/4, Jly 3.75 1/2 steady.

Copyright 2012 by United Press International