Business News - Grains strong at the finish Wednesday

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Grains strong at the finish Wednesday

CHICAGO (UPI) -- Grain trading began slow in Chicago Wednesday then pushed to strong rallies, especially in corn and wheat.

Corn was up 28 1/2 to 29 1/4; soybeans were up 16 1/2 to up 20; wheat was up 14 3/4 to up 15 1/2; oats were up 12 to up 16.

Corn rallied on worries the late planting season will limit yields. Wheat contracts gained on persistent dry weather in Argentina. Soybean contracts also rallied on news from Argentina as farm leaders rejected a proposal to limit export tax to only large farms.

The prices:

Corn: Jul 7.48 3/4, up 29 1/4; Sep 7.61, up 28 3/4; Dec 7.80 1/2, up 28 1/2; Mar 7.97 3/4, up 29.

Soybeans: Jul 16.45 3/4, up 17 3/4; Aug 16.39 1/2, up 16 1/2; Sep 16.32, up 17; Nov 16.30, up 20.

Wheat: Jul 8.65 1/4, up 15 1/2; Sep 8.80 1/4, up 15 1/2; Dec 9.03 1/2, up 15 1/2; Mar 9.24 1/2, up 14 3/4.

Oats: Jul 4.54, up 16; Sep 4.62, up 12; Dec 4.80, up 12 1/2; Mar 4.97, up 12 1/2.

Copyright 2008 by United Press International

This news arrived on: 07/02/2008

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