Chicago -- A sharp gain in crude oil prices pushed grain trading Friday, pressuring demand for corn and soybeans on the Chicago Board of Trade.
Corn was up 6 1/2 to up 7 3/4; soybeans were up 3 to up 8; wheat was up 25 1/2 to up 26 1/4; oats were off 4 1/2 to off 5.
A weak dollar, a surge in oil and wet weather lifted corn Friday. Wheat gained, although beneficial rains are predicted for Australia's dry wheat areas. Soybeans strength came from crude, wet weather and a farmer's strike in Argentina.
The prices:
Corn: Jul 6.50 3/4, up 7 1/2; Sep 6.63 3/4, up 7 3/4; Dec 6.77 3/4, up 7; Mar 6.77 3/4, up 7.
Soybeans: Jul 14.57 1/2, up 5 1/2; Aug 14.57 1/4, up 3; Sep 14.46 1/2, up 8;
Nov 14.39 1/2, up 7 1/2.
Wheat: Jul 8.11, up 25 1/2; Sep 8.27 1/4, up 25 1/2; Dec 8.50 1/4, up 25 3/4; Mar 8.73 1/4, up 26 1/4.
Oats: Jul 3.99 1/4, off 4 3/4; Sep 4.10 3/4, off 5; Dec 4.26, off 4 1/2; Mar 4.41, off 4 1/2.
Crude oil pressures grain prices Friday
Chicago -- A sharp gain in crude oil prices pushed grain trading Friday, pressuring demand for corn and soybeans on the Chicago Board of Trade.
Corn was up 6 1/2 to up 7 3/4; soybeans were up 3 to up 8; wheat was up 25 1/2 to up 26 1/4; oats were off 4 1/2 to off 5.
A weak dollar, a surge in oil and wet weather lifted corn Friday. Wheat gained, although beneficial rains are predicted for Australia's dry wheat areas. Soybeans strength came from crude, wet weather and a farmer's strike in Argentina.
The prices:
Corn: Jul 6.50 3/4, up 7 1/2; Sep 6.63 3/4, up 7 3/4; Dec 6.77 3/4, up 7; Mar 6.77 3/4, up 7.
Soybeans: Jul 14.57 1/2, up 5 1/2; Aug 14.57 1/4, up 3; Sep 14.46 1/2, up 8;
Nov 14.39 1/2, up 7 1/2.
Wheat: Jul 8.11, up 25 1/2; Sep 8.27 1/4, up 25 1/2; Dec 8.50 1/4, up 25 3/4; Mar 8.73 1/4, up 26 1/4.
Oats: Jul 3.99 1/4, off 4 3/4; Sep 4.10 3/4, off 5; Dec 4.26, off 4 1/2; Mar 4.41, off 4 1/2.
