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Mortgage rates move lower
CHICAGO, May 12 (UPI) -- Weather concerns bolstered prices on the Chicago Board of Trade Monday, encouraging weather for crops suppressing prices.
Corn was off 12 1/4 to off 15; soybeans were off 12 1/4 to off 15 3/4; wheat was up 3.4 to up 2; oats were unchanged to off 5 1/4.
Corn prices broke on forecast changes that include drier weather than previously expected. Early wheat selling was blamed on rain across large sections of the Plains. Soybeans, looking at dry weather later this week, supported prices as quick planting suggested less total acreage on the year.
The prices:
Corn: May 6.03 1/2, off 15; Jul 6.14 3/4, off 14 1/2; Sep 6.26 3/4, off 14 1/4; Dec 6.37 3/4, off 12 1/4.
Soybeans: May 13.35, off 14 1/2; Jul 13.42 1/2, off 15 1/2; Aug 13.37 1/2, off 15 3/4; Sep 13.12 1/2, off 12 1/4.
Wheat: May 7.93, 1/2 up 2; Jul 8.05 1/2, up 1; Sep 8.19 3/4, up 1 1/4; Dec 8.40 1/4, up 3/4.
Oats: May 4.05, unchanged; Jul 4.10, off 3; Sep 4.20 1/4, off 5 1/4; Dec 4.36, off 2 1/2.
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