Grains close higher with dollar down

Posted on Aug 21, 2012 in Business | 0 comments

Grain futures prices were higher at the close Monday on the Chicago Board of Trade as the U.S. dollar fell against the euro and the yen.

Corn was 16 to up 16 3/4, soybeans were up 24 to up 37 3/4, wheat was up 5 to up 14 3/4 and oats were up 3 1/4 to up 5.

Corn found extra support from indications that corn chopped for silage for animal feed was higher than expectations. Dry weather in Australia and Russian gave support to wheat pricing. In the soybean market, traders are keeping an eye on the U.S. weekly crop report, expecting field conditions to have improved slightly in the past week.

The prices:

Corn: Sep 8.15 1/4 up 16 3/4, Dec 8.23 3/4 up 16 1/2, Mar 8.24 up 16 1/4, May 8.16 1/2 up 16.

Soybeans: Sep 17.03 3/4 up 32 3/4, Nov 16.83 1/2 up 37 3/4, Jan 16.73 3/4 up 36 3/4, Mar 15.78 1/4 up 24.

Wheat: Sep 8.79 1/2 up 5, Dec 9.02 3/4 up 8 1/4, Mar 9.12 1/4 up 9 1/2, May 9.02 1/4 up 14 3/4.

Oats: Sep 3.88 1/2 up 4 3/4, Dec 3.88 3/4 up 5, Mar 3.88 3/4 up 3 1/4, May 3.91 3/4 up 3 1/4.

Copyright 2012 by United Press International