Grain futures higher in Chicago

Posted on Aug 16, 2012 in Business | 0 comments

Futures closed higher on the Chicago Board of Trade Wednesday, as the dollar index was flat, rising 0.16 percent.

Corn was up 10 to up 14 1/4, soybeans were up 23 3/4 to up 36 1/2, wheat was up 1/4 to up 8 1/2 and oats were up 7 3/4 to up 8.

Corn found support from an ethanol production report that showed usage up for the third consecutive week. Russia’s Agriculture Ministry reported production of wheat was down 28.6 percent from 2011 with the harvest nearly halfway done. In the soybean market, weather forecasts are providing some price support with temperatures expected to cool down somewhat.

The prices:

Corn: Sep 7.94 up 14 1/4, Dec 8.04 up 15, Mar 8.04 1/4 up 13, May 7.98 1/4 up 10.

Soybeans: Aug 16.59 3/4 up 36 1/4, Sep 16.34 1/2 up 36 1/2, Nov 16.25 1/2 up 32 3/4, Jan 15.41 up 23 3/4.

Wheat: Sep 8.46 3/4 up 7, Dec 8.66 1/4 up 8, Mar 8.76 up 8 1/2, May 8.59 1/4 up 1/4.

Oats: Sep 3.76 1/4 up 7 3/4, Dec 3.76 1/4 up 7 3/4, Mar 3.78 up 8, May 3.81 up 8.

Copyright 2012 by United Press International